Thomson Buys Out Travel Firms

Press, Volume CIV, Issue 30741, 4 May 1965, Page 17

Thomson Buys Out Travel Firms

(Special Correspondent N.Z.P.A.) LONDON, May 3. The Thomson Organisation is diversifying into the travel industry.

Through its subsidiary. Thomson Industrial Holdings, it has acquired for cash all the share capitals of Universal Sky Tours,. Riviera Holidays, and Britannia Airways, an independent charter aircraft operator. The sum involved is not disclosed. Universal and Riviera Holidays operate inclusive tour holiday programmes throughout Europe,' while Britannia Airways, which is based at Luton Airport, operates six Britannia turbo-prop airliners, which, apart from normal charter work, serve the requirements of Universal Sky Tours,

Commenting on the move, Lord Thomson Of Fleet, chairman of the Thomson

Organisation, said it formed part of the projected diversification and expansion policy which he mentioned in his recent annual review. “The principal reasons for our choice of the holiday travel business are that we believe it has substantial growth prospects, and that it is a field particularly appropriate to the organisation’s special skills, insofar as it includes a major element of public service, covers the international field in which we already operate and is, indeed, another aspect of communications.” Lord Thomson said this year Universal and Riviera would provide inclusive holidays abroad for about 10,000 people—using Britannia Airways.