After this date, the Trustees will distribute the assets of the Scheme, having regard only to claims, entitlements and interests notified to them. It operates a fleet of 64 aircraft and flies from 26 British airports to 109 destinations worldwide. The company confirmed in January 2013 that it had received a proposal from its parent to merge. All of our getaways include flights, accommodation, transfers, three meals a day and local drinks as standard. In 1994, therefore, the company scaled back its number of brand names to just three, and changed its corporate name to First Choice Holidays. The company confirmed in January 2013 that it had received a proposal from its parent to merge.
First Choice itself was caught up in the consolidation whirl, announcing its agreement in 1999 to merge its operations with those of Switzerland's Kuoni Travel and thereby create one of Europe's leading travel operators. Principal Competitors: Airtours Plc; American Express Company; Carlson Wagonlit Travel; Kuoni Travel Holding Ltd. The resulting scandal among shareholders forced the resignation of Klein and other members of the company's management. Kuoni dropped out of the proposed merger and First Choice's hopes rested on the European Community's Mergers and Monopoly review board, which rejected the takeover attempt. Baron immediately took the company on a rebranding and restructuring exercise. Operating margins were also dismal, posting at just 1 percent, compared with as much as 5 percent elsewhere in the industry.
Jones, David, 'First Choice Picks Europe for Growth,' Reuters, December 14, 1999. Members of the Scheme and other beneficiaries with whom the Trustees or the Scheme's administrators are alreadyin contact need not respond to this notice as their interests have already been noted. The company's initial focus was on discounted airfares. The deal was well greeted by industry analysts, who pointed out the investment gave First Choice a large-scale investor capable of thwarting any future hostile takeover attempts. By the beginning of the 1990s, Owners Abroad had built up a position as one of the top five travel companies in the United Kingdom. The escorted tours market, particularly at the premium end, has been an area we were keen to enter and through this acquisition we have a significant platform from which to develop with leading brands. At last, in 1996, after other members of First Choice's management threatened to quit, Baron was packed off with a £650,000 severance check.
Jet4you operated services between Moroccan cities and destinations in France, Belgium, Switzerland, Spain and Italy. Operations have now been merged with Jetairfly. The company's smaller range of brand names were also restructured around three main business categories, those of family vacations, single holidays, and luxury travel. The two deals, for £134 million, helped to spark a century's end industry consolidation frenzy. First Choice, however, was now content to remain on the sidelines of the consolidation drive and instead quietly build up its portfolio in what was to become widely viewed as the key travel growth market in the 21st century, that of specialist travel. Its main bases were , , , , and.
In that year, the company bought up two of the U. Following the merger of and Thomsonfly, the new combined airline became. Claimants should provide their full name, address, date of birth, National Insurance number, details of the period of employment to which their claim relates and evidence of any benefits they think they are entitled to. The company fought to defend itself, at a cost of £5 million, and finally succeeded when its German investor increased its stake to 20 percent. Not only were Long and Clubb successful--the company's operating margins topped 5. In 1986, the company purchased two Boeing 757s; by 1987, the company was ready to launch its airline, dubbed Air 2000. The company also made significant strides overseas, acquiring the European tour operating business of Ten Tour Group and the travel division of Spain's Barcelo, giving it a foothold in most of the primary European markets.
After consolidating acquisitions, First Choice's turnover neared £2 billion in 2000, with industry-leading operating margins of 5. First Choice has a proven track record of successfully integrating and growing acquisitions such as ours, and we look forward to being part of the Group. Phelps, John, 'First Choice Cruising After Holiday Alliance,' Scotsman, May 19, 2000. At the same time, First Choice moved to become a vertically integrated operator, adding a long-absent retail division, boosted by the acquisitions of Bakers Dolphin--which traced its history back to the late 1800s--and Intatravel. Fueling this new acquisition drive--and providing a significant war chest for future acquisition moves--was the May 2000 agreement with Caribbean Cruise Lines that gave the latter a 20 percent stake in First Choice for its £200 million investment.
First Choice has been actively expanding its European continental holdings, boosted by the acquisitions in 2000 of the European tour operating business of Ten Tour Group and the travel division of Spain's Barcelo. It operates charter flights to , , the and the. Fueling these acquisitions is the £200 million investment agreement with Caribbean Cruise Lines, which gave the U. The European Commission approved the merger on 4 June 2007, on the condition that the merged company sell Budget Travel in Ireland. We go above and beyond your average travel agency. Hans Birkholz has led the strategic and tactical operations of Grand Expeditions, and has been responsible for the overall growth of the Company. Backing the launch of Air 2000 and the company's impending expansion was a full-listing on the London primary market, in 1987.
Plus, our destinations range from Spain and Italy to far-flung St Lucia and Mexico - not to mention city breaks. The airlines were rebranded with the name best known in their local market or the name of the principal tour operator, and names were changed. After market tests revealed that many of the company's half dozen or more brand names enjoyed virtually no brand recognition among British consumers compared with more than 50 percent recognition for rival Thomson ; meanwhile, the company's name itself had led to a great deal of confusion among consumers, who were convinced that Owners Abroad was little more than a time-share operator. It first listed on the in 1982. By the time the dust settled on the hostile takeover, the consolidation of Europe's travel industry was in full swing, with U. That deal unraveled after Airtours returned with a new hostile bid for First Choice--quickly rallying First Choice's shareholders to its cause.