ONLINE travel booking and expense management provider Serko Limited today forecast its revenue for 2018/19 would increase by up to 30%, after confirming the signing of a Letter of Intent with Flight Centre.
The agreement commits the parties to negotiate a variation of the existing contract between Serko and Flight Centre which would extend the partnership with FC’s corporate brands across Australia, New Zealand and Asia through to 2022.
The Letter of Intent would also see an expansion of the pact across North America to include Flight Centre’s operations in the USA, Canada and Mexico.
Under the agreement Serko would receive an “ongoing development contribution” from Flight Centre Travel Group, which will enable FCTG to launch a “unique product based on Serko’s latest online travel management technology”.
“In the event that a binding contract variation is agreed…we expect that the FCTG relationship will deliver further revenue growth in FY20 year as we recognise the full trading benefit of the geographic expansion and implementation of the new technology,” Serko said.
Source: traveldaily