Webjet aquires NZ’s Online Republic

The Webjet online travel site is seen, Sydney, Tuesday, Aug. 21, 2012. (AAP Image/Stephanie Flack) NO ARCHIVING

Webjet has purchased New Zealand-based travel group Online Republic for $NZ85 million ($A80.16 million).

While the online travel company raises the funds for the acquisition through a fully underwritten entitlement offer and new share issue, Webjet shares are in a trading halt.

Webjet managing director John Guscic said “Online Republic represents a unique opportunity to leverage Webjet’s core capabilities into the attractive online car rental, cruise and motorhome segments.”

The deal involves both cash and scrip, with Online Republic’s owners to receive Webjet shares for 22 per cent of the purchase price. The remainder, around $62.6m, will come in the form of cash.

The ASX-listed Webjet (WEB) said it would also be looking at “other growth opportunities.”

Online Republic is a NZ-based global travel group that focuses on car and motorhome rentals as well as cruise bookings. It was founded in 2004 and currently has over $200 million in annual sales.

Latest News

  • Destinations

On Location: Rejoice! It’s Your Daily Wrap Of Africa’s Travel Indaba

South Africa this year commemorates 30 years of freedom and democracy. It is fitting then that Africa’s Travel Indaba (ATI) takes place this week in Durban at a venue named after one of South Africa’s foremost proponents of freedom, Albert Luthuli. Patricia de Lille, Minister of Tourism, South Africa said ATI represented a celebration of […]

  • Tourism

Lack of budget spend will hit international visitor recovery, says Australian Tourism Industry Council

The Australian Tourism Industry Council has expressed disappointment in the 2024 Federal Budget that rejected a submission advocating for a major funding increase for Tourism Australia to recover international tourism. “The Federal Budget 2024 has not invested in our international tourism recovery,” ATIC said in a response to Federal Treasurer Jim Chalmers decisions. ATIC members, which […]

  • Conferences

Expedia CEO assures AI will not replace human roles, announces AI text assistant

Travel giant Expedia has wasted no time unveiling several new features and products at its EXPLORE conference in Las Vegas, including the world’s first AI chatbot Romie. As to be expected, AI has been one of the key topics of discussion. Expedia CEO Ariane Gorin put fears to bed around its power and ability to […]

  • Aviation

Top four airports report return to profit after post-Covid period comes to an end

The aeronautical operations of Brisbane, Melbourne, Perth and Sydney airports returned to profit in 2022-23, the first full financial year since the end of COVID-19 travel restrictions, the ACCC’s latest Airport Monitoring Report shows. In contrast, all four monitored airports reported losses on their aeronautical operations in 2021-22. A return to profit was helped by […]

  • Luxury

COMO launches new family-sized farmhouse in the heart of Tuscany

COMO Hotels and Resorts has launched its new farmhouse apartments in the heart of Tuscany, just in time for Australians to escape our wet winter. And it’s also an ideal time for Aussies of Italian ancestry to explore their home country as 2024 has been declared the year of Roots and Heritage Tourism by the […]

  • Aviation

Green light, green fuel for Townsville Airport as passenger numbers set to double to 3.7m

The Townsville Airport Master Plan, including the expansion of the airport terminal and development of the surrounding precinct, has been given the green light by the Federal Government. The 2023 plan outlined Townsville Airport’s strategic vision and growth objectives over the next two decades, with a detailed focus on the initial eight years. Townsville Airport […]

  • Destinations
  • News

New Caledonia in lockdown and airport closed after violent riots rock Noumea

New Caledonia officials have announced a 6pm-6am curfew, a liquor ban and have closed the country’s main airport after overnight riots in which vehicles were torched and roads blocked in the wake of proposed constitutional reforms. Australian Government website Smartraveller has issued an alert informing visitors to exercise a high degree of caution in metropolitan […]