Experience Co Sells Skydive and Aviation Business for $110 Million
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Experience Co, an Australian tourism company listed on the stock exchange, has announced a major change to its business. The company has agreed to sell its skydive and aviation operations in Australia and New Zealand to the Inflite Group, a private company based in New Zealand.
The deal is valued at $110 million. This sale includes several popular adventure tourism brands that operate across both countries. By selling these specific parts of the business, Experience Co aims to simplify its operations and focus on other areas of its portfolio.
Inflite Group is a well-known tourism and aviation provider in New Zealand. By acquiring these businesses, the company plans to expand its presence in the adventure travel market. The transition is expected to be completed in the coming months, pending final approvals.
For travelers and customers, the change in ownership is not expected to cause immediate disruptions to services. Both companies have stated that they are working together to ensure a smooth handover for staff and clients.
This sale represents a significant shift in the trans-Tasman tourism industry. As the travel sector continues to recover and grow, companies are increasingly looking for ways to streamline their assets and strengthen their market positions.