Jetset Travelworld and Stella Travel Services yesterday agreed to merge, creating a mega travel retailing and wholesaling business valued at $440m. Sounds like a lot of  money but consider this: in July 2007 publicly listed Jetset had a market capitalisation of $880m when its share price reached $3.99 (it’s now about $1). Seven months later, in February 2008, CVC Asia Pacific bought 65% of Stella, including a now separate hotel division, for $409m. Combined, that’s a vaulation well north of $1.2b. Where has all the money gone? That’s a story for another day. Brands include Jetset, Traveworld, Harvey World Travel, Viva Holiday, Orient Pacific, Best Flights, Concorde, Qantas Holidays, QBT, Travelscene and many, many more.

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