Published on Thursday, March 31, 2011
Cheapflights Media has invested in travel meta-search site momondo.com and its parent company Skygate International.
Momondo and Skygate will continue to operate from Copenhagen as independent brands led by their existing founding management.
Both companies are private and no financial details of the deal were disclosed.
Cheapflights said it will continue to focus on providing flights deals for consumers with flexible schedules looking for travel inspiration, while Momondo will continue to focus on providing consumers on a fixed schedule with real time bookings in flights, hotels and car hire.
Momondo has a strong Scandinavian and Russian presence, while Cheapflights is stronger in the UK and North America.
Cheapflights Media CEO Chris Cuddy said: "Initially, Cheapflights Media will be replacing our Zugu meta-search product and brand with Momondo.
"Down the road, we will explore opportunities to leverage technology, data, and advertising partnerships across the Momondo and Cheapflights networks."
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The recent insolvency of Low Cost Travel Group, one of the large players in the travel industry had a big impact on the travelers, hotels and all related players from both wholesale & retail arms. There were about 27,000 people on a holiday who had booked through the company comprised of a €200 million wholesale arm and €500 million OTA / retail arm.