BA prepares to flee opodo
Printoh no, it's all woe for opodo
Posted in Business, 29th March 2004 08:53 GMT
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British Airways is set to write off a £40m investment in flight booking website opodo.
The site was set up by the nine big European airlines and BA has a 20 per cent stake in the company. BA will sell its stake to Amadeus, according to the Mail on Sunday.
Opodo was a late arrival in the online travel business and racked up huge losses. Opodo launched in 2002 in the UK. Despite big marketing bucks, it never really competed with the likes of lastminute and ebookers, or even BA, which sells half of its shorthaul tickets through its own website, ba.com.
BA told the MoS: "British Airways and the shareholders of opodo are looking at ways of growing the opodo business. This may or may not lead to a change of shareholding structure. However, as no decisions have been taken, any reports are premature and speculative."
Opodo operates in France , Germany and the UK. It employs 400 people. ®
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