By Jo Best, 16 June 2004 16:40
NEWS Online travel agent Opodo has got a new big brother – travel distribution company Amadeus has bought a controlling interest in the company.
Amadeus will invest €62m in cash in the company and will receive a 55 per cent stake, on the condition that the airlines involved in the creation of the site – major European carriers including British Airways and Air France – continue their involvement as shareholders but with a reduced stake.
Amadeus will also leave a €49m loan it made to Opodo in place and the travel site will operate as an independent organisation.
Opodo set up in the UK in 2002 but, after a promising start, has struggled to match the high traffic of competitors such as Expedia and Lastminute, although the loss-making site does fare better with its properties in Germany and France.
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