May 20, 2020

China’s Ctrip buys Skyscanner for $1.75 billion

China
Ctrip
Travel services
Flight booking
1 min
China’s Ctrip buys Skyscanner for $1.75 billion

UK-based travel search business Skyscanner has been bought by China's biggest online travel firm Ctrip in a deal worth a reported $1.75 billion.

The online business has around 60 million monthly active users, who can browse for deals and compare prices for flights, hotels and rental cars in 30 different languages.  

It has been reported that Skyscanner will continue to run independently, and will retain its current management team.

Ctrip is a provider of travel services to the Chinese market and beyond – it is well known for its accommodation reservation, transportation ticketing, packaged tours and corporate travel management services.  

James Jianzhang Liang, co-founder and executive chairman of Ctrip, said the deal would "strengthen long-term growth drivers for both companies.

"Skyscanner will complement our positioning at a global scale and Ctrip will leverage our experience, technology and booking capabilities to Skyscanner's.” 

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SOURCE: [BBC]

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