Arion Bank has acquired all shares in the company TravelCo hf. and the Bank’s plan is to find new long-term owners for the tour operators as soon as possible. TravelCo was founded following the collapse of Primera Air and owns and operates tour operators in Iceland, Denmark, Sweden, Norway and Finland. This is primarily a change in ownership which will not affect the daily operations or services of the tour operators which remain unchanged. Arion Bank’s goal in acquiring the company is to safeguard the continued operation of the tour operators as well as the Bank’s interests.
In Iceland TravelCo runs the tour operators Heimsferðir and Terra Nova and these companies have performed well.
Andri M. Ingólfsson, founder of TravelCo:
“It is certainly a watershed moment, both for me personally and the company, now that new owners are taking the helm. I feel a great sense of gratitude to all the outstanding people I have worked with and who have helped build this company over the past few years. TravelCo is one of the leading tour operators in the Nordic area and I wish the company and its employees the very best for what will surely be a bright future.”
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