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Kuoni sees profits rise, despite cancellations

Kuoni sees profits rise, despite cancellations

Tour operator Kuoni has seen profits rise by nearly 300 per cent over the past year, with a recovery in the global economy and a cost cutting drive both taking effect. The Switzerland-based organisation recorded earnings before tax and interest of £39.6 million in 2010, compared to £10.2 million in the previous year.

Kuoni acquires GTA from Travelport for $720m

Kuoni acquires GTA from Travelport for $720m

Kuoni has signed a deal to purchase online travel services provider Gullivers Travel Associates from Travelport in a move believed to be worth $720 million. Switzerland-based Kuoni said it would use existing cash resources, new long-term debt facilities and equity raised through a discounted share offering to finance the deal.

Kuoni expands into Scandinavia

Kuoni expands into Scandinavia

Swiss travel giant Kuoni Group has acquired Swedish luxury operator Lime Travel for an undisclosed sum. The company specialises in tailor-made long-haul travel, and recoded a turnover of CHF9.3 million (£6.14 million) last year.

Cost-cutting helps Kuoni narrow losses

Cost-cutting helps Kuoni narrow losses

19 August 2010 Organisations & Operators

A programme of cost cutting has helped luxury tour operator Kuoni reduce first-half losses to £23 million from £30 million in 2009 despite sales remaining “muted” due to the European debt crisis, the volcanic ash cloud and political voilence in Thailand.