As part of its ongoing overhaul, Jetset Travelworld Limited is to become Helloworld Limited with the name change to take effect on December 2.
The change was voted in at the firm’s annual general meeting which took place today.
Speaking at the firm’s annual general meeting, chairman Tom Dery told shareholders that the change would “reflect the transformation of our business and the launch of the new identity of the group”.
He referred to recent developments as signs of the metamorphosis, such as co-branding deal with American Express, the finalisation of a strategic alliance with Orbitz to deliver Helloworld.com.au, the sale of ATS Pacific to the AOT Group and its signing of 200 stores to the new retail brand.
“All of these initiatives are important milestones in the implementation of the long-term strategy for JTG which is firmly focused on growing a strong position in the Australian travel market by better leveraging the scale of the group, building on consumer insights and delivering a new multichannel platform to meet changing consumer needs,” Dery said.
He placed the cost of the implementation of the strategy in the range of between $35 million and $40 million, “in line” with previous guidance. The process is expected to be complete by December 31 2014.