By Stuart Condie
SYDNEY--Flight Centre Travel Group Ltd. will launch its FCM travel management business in Japan in a joint venture with Tokyo-based NSF Engagement Corp., as the Australian travel agent targets the world's fourth largest corporate travel market.
The ASX-listed company on Thursday said FCM Japan would operate from January 2022. NSF, a joint venture between NTT Facilities and Sony People Solutions, has significant experience in managing large global corporate accounts, it said.
The leader of NSF's corporate travel business, Kenichi Shiraishi, will head FCM Japan, Flight Centre said.
Flight Centre, which has been pounded by 18 months of domestic and international travel restrictions, said it was investing in Japan at what it called the beginning of the post-Covid recovery phase.
"Choosing to expand FCM's network in Asia at this critical time speaks volumes of the tremendous potential Japan has and the role the country will play in our global corporate strategy in the future," FCM Asia Managing Director Bertrand Saillet said.
Flight Centre, which has recorded statutory losses totaling almost A$1.1 billion (US$806.8 million) across its last two fiscal years, did not immediately give financial details of the venture.
Write to Stuart Condie at firstname.lastname@example.org
(END) Dow Jones Newswires