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“Astravel” and “PAKS” to incorporate

08:07, 11 октября 2011

Two tour operators with almost 20 years of experience “Astravel” and “PAKS” announced incorporation with the purpose of establishing a powerful multi-field tour operator holding. Both brands are well known on travel market and hold strong positions on winter and summer destinations.

According to Director General of “Astravel” Company Mr. Valery Loschits, this strategic step is aimed at getting synergetic effects of these two successful tour operators’ performance. “The incorporation will provide sustainable growth and strengthen both brands” – Mr. Loschits pointed out – “The new holding will amalgamate strong professionals, ideas, business methods and information technologies, which will definitely force the development of the joint company”.

It is known that the deal hasn’t been sealed yet. Allegedly merger is not the case here, the two companies will be integrated with each other. As was revealed to RATA-news by Valery Loschits both brands and legal bodies will remain intact. The promotional activities will be joint as well. The tour operators wouldn’t disclose how the budgets are to be managed. According to some reports, the newspaper has access to, the establishment of some sort of managing company is anticipated.

“We still have many unresolved issues to work on” – explained PAKS’s Chairman of the Board of Directors Mr. Sergey Prigolovkin – “But obviously the incorporation may bring positive results. Our company has its strong sides, “Astravel” has theirs, both in the business process and sales”. The incorporation won’t require us to stop the work. All the destinations that both tour operators have on offer will remain on offer – pointed out Mr. Prigolovkin.

Another important factor is the presence in the would-be managing company of a strategic finance partner “Finance Industrial Capital” Bank. The parties point out that it will allow sustainable development and possibility of engaging new tour operator brands.

This is not the first incorporation of tour operators on the Russian market targeted at the business expansion. Three years ago two other operators “Ertzog” and Regtour” were incorporated using the similar scheme. The latter remained within the structure of “Ertzog” as an independent unit. According to Director General of both entities Mr. Mikhail Mousiniants  the incorporation did a power of good to both companies. “Ertzog” gained access to summer destinations traditionally offered by “Regtour” and vice versa. As a result mutual sales went up.

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