The merged company will have a turnover of NIS 1.25 billion.
Unitel Tourist & Air Ltd., Israir Airlines and Tourism Ltd., and Natour Travel Agent Association for Organized Tours Ltd. have merged into a holding company with two divisions, one for aviation, and the other for tourism. The merger is part of a global consolidation trend in the tourism industry.
The model for the merger is German domestic and international tour operator TUI AG. The merger will reportedly make it possible to lower rates for travel agencies and passengers. The merged company will have a turnover of NIS 1.25 billion.
Israir general manager Sabina Biran and Unitel general manager Zohar Andelman will manage the new company, and Nahum Kara will continue to head Natour.
Published by Globes [online], Israel business news - www.globes.co.il - on January 8, 2006