The company was established in 1906 by Alfred Kuoni, has its headquarters in Zurich/Switzerland and has developed into the uncontested market leader in Switzerland, its home market. While only two years ago roughly one half of turnover was still generated in Switzerland, this percentage has declined to less than 30 today - testimony of Kuoni's strong pan-European presence. In contrast to the other major European operators, Kuoni enhanced its position in markets outside Europe such as the USA and India
Operating subisidiaries in over 20 countries in Europe, Asia, America and Africa, Kuoni has evolved into a company with a truly global reach that employs a staff of approx. 8'300 specialists around the world. The Kuoni Group is active in the leisure travel segment - with 85 % of turnover the mainstay of the Group's operations - as well as in the business travel and Incoming sectors. Last year Kuoni was again honoured with the "World Travel Award" as the best Tour Operator world wide for the 6th time in a row.

http://www.kuoni.fr

Kuoni acquires Direkt Reisen in Switzerland
The Kuoni Group is to acquire a 60% shareholding in Direkt Reisen AG, effective July 1. The remaining 40% of the company, which is domiciled near Zurich, Switzerland, will remain in the possession of the founding family and a further shareholder. Direkt Reisen AG is one of Switzerland's leading direct sellers of inclusive-tour products to the Mediterranean, the Caribbean and African and Asian destinations. The acquisition thus further strengthens Kuoni's position in the Swiss direct-sales travel market. 
Founded in 1999, Direkt Reisen AG generated turnover of CHF 53 million last year with a workforce of some 25 employees. All the company's personnel will be kept on. The Direkt Reisen brand and further partner brands will also be retained. The parties agreed not to divulge the sale price involved. Direkt Reisen and its activities will be integrated into the Kuoni Switzerland unit of Strategic Business Division Smart within the Kuoni Group.   
Direkt Reisen offers inclusive tours, largely in the beach-holiday segment, to the Mediterranean, the Caribbean and African and Asian destinations. The company's product range also extends to cruises, tours, rail travel and wellness vacations. Distribution is almost entirely via call centres, and its products are also available online. 

Kuoni acquires Desert Adventures Tourism of Dubai
Kuoni is pressing ahead with its acquisition strategy. With effect from 1 July 2008, Kuoni Travel Holding Ltd is to acquire together with a local partner an 80% stake in Dubai-based Desert Adventures Tourism. The remaining 20% is being retained by the current managing director. Desert Adventures Tourism is active in destination management in four countries in the region: the United Arab Emirates, Oman, Qatar and Bahrain. With this acquisition, Kuoni continues to build up its position in this important tourism region.
Desert Adventures Tourism was founded in 1997 in Dubai. The company expects to post sales of around CHF 100 million for the 2007/08 financial year, which ends on 30 June. The company's 150 staff will keep their jobs and the existing management team will continue to have responsibility for the company's positive development. The parties have agreed not to divulge the purchase price. Within the Kuoni Group, Desert Adventures Tourism will be integrated into the Strategic Business Division Destinations, though the brand name is being retained.
Desert Adventures Tourism is one of the leading providers of destination management services in the United Arab Emirates and Oman. The company is also active in Qatar and Bahrain. Desert Adventures Tourism offers local services for both leisure and business travel. "Desert Adventures Tourism has achieved significant growth over the last financial year, and together with the employees and existing management we intend to accelerate this growth still further," said Rolf Schafroth, Kuoni Group's Head of Strategic Business Division Destinations, at a press conference in Dubai.
This acquisition significantly expands Kuoni's presence in this important tourism region. Kuoni Destination Management opened its first sales office in Dubai in 2001. Then in 2006 it built up its own destination management company. These activities are now being merged with Desert Adventures Tourism.

Kuoni acquires Scandinavia-based golfing specialist
The Kuoni Group is to acquire specialist tour operator Golf Plaisir Resebyra AB on July 1. The corresponding contractual agreements were signed yesterday. The Swedish-based company is currently the biggest independent provider of golf travel products to the Scandinavian market, and specialises in group travel for golfers to Mediterranean destinations and exclusive tailored golfing vacations all over the world. 
Golf Plaisir Resebyra AB, which was founded in 1992 and is headquartered in Stockholm, Sweden, has a workforce of 15 full-time equivalents and generated turnover of around CHF 17 million in its 2006/07 business year. The company sells golf travel products via direct-distribution channels, and some 25% of all its sales are effected online. The parties agreed not to divulge the purchase price involved. 
Golf Plaisir Resebyra AB offers the Scandinavian market group travel arrangements with its own golfing staff to 18 Mediterranean destinations under its "Golf Plaisir" brand. It also provides high-value individually-tailored golfing vacations to 50 destinations all over the world under its "Out of Bounds" brand. Kuoni will retain these brands within the Scandinavian market. The present management team will remain responsible for the company's continued development and success, and all current staff will also be retained. 

WEKO approves the acquisition of Edelweiss Air by SWISS
WEKO, the Swiss Competition Commission, has given its green light for the merger of the two airlines. The authorities have not imposed any special conditions. Edelweiss Air will continue to operate as an independent member company of the Swiss Group. Kuoni remains Edelweiss Air's biggest customer.
The favourable decision taken by the Competition Commission now permits full implementation of cooperation between Edelweiss Air and SWISS. Allowing for the necessary organizational system adjustments, operational completion is scheduled for the end of October 2008. In February, Kuoni and SWISS announced a strategic partnership. In addition to the acquisition of Edelweiss Air by SWISS, this also includes a comprehensive hotel offering by Kuoni on SWISS.COM.
With the consent of the authorities, Edelweiss Air will continue to operate as an independent airline with unchanged management, its own fleet and own crew. The three Airbus 320 short haul aircraft and the Airbus 330-200 for long haul flights will remain in service. Kuoni Switzerland is still Edelweiss Air's biggest customer and will continue to offer high quality holiday flights to a wide range of destinations. All three parties look forward to the new Swiss partnership which can now be implemented. 

Kuoni and SWISS enter into strategic partnership
Kuoni Travel Holding Ltd. and Swiss International Air Lines are to embark on a comprehensive strategic partnership. The customers of both companies will benefit from the wider range of products and services that the collaboration should provide. The partnership will also enable Kuoni and SWISS to focus on their respective core competencies. Kuoni will offer its range of hotels via SWISS.COM, and SWISS will acquire Kuoni's leisure airline Edelweiss Air.
The comprehensive strategic partnership will enable Kuoni and SWISS to make optimum use of their respective strengths and capabilities and exploit new synergies; and the wider range of products and services it provides will benefit both partners' customers. Under the planned collaboration, Kuoni will offer an extensive range of hotel accommodations via the SWISS.COM website from January 1, 2009 onwards. Kuoni's hotel range currently extends to more than 15 000 selected establishments in all categories all over the world. 
The SWISS.COM website will allow private individuals to choose their preferred hotel at their SWISS or Edelweiss Air destination and book it directly. The range of hotels offered will also extend to destinations beyond the present SWISS network. The new facility will enable customers to combine their desired flights and hotel accommodation and book the whole arrangement online. In the past, these facilities were offered solely to travel agencies and other tour operators. Under the new collaboration, they will now be available to private customers, too.
The new Kuoni/SWISS partnership will also result in a closer collaboration between SWISS and Edelweiss Air to which each carrier will contribute its own core competencies. Edelweiss Air's aircraft will continue to be operated by Edelweiss Air personnel. And, under a broader and comprehensive collaboration agreement, Kuoni will buy-in seat capacity on SWISS and Edelweiss Air leisure flights. In addition, individual seats on Edelweiss Air services will also be offered for sale via SWISS.COM, travel offices, call centres and the kuoni.ch website. 
"This collaboration really is a win/win situation for everyone involved," says SWISS CEO Christoph Franz, "and our customers will benefit from a wider range of products and services." "Edelweiss Air will remain Edelweiss Air - with its new sister SWISS, too," adds Harry Hohmeister, Chief Network & Distribution Officer at SWISS. 
Kuoni views the new partnership as a further milestone in implementing its own overall strategy, as Max E. Katz, CFO of the Kuoni Group and spokesman for the Group Executive Board, explains. "Our sale of Edelweiss Air marks a further consistent step in our strategy of not owning assets such as aircraft or hotels," Katz says. "We aim to focus on organising, advising on and distributing leisure travel products and, in our destination management activities, on organising and selling land arrangements at the destination. Our new strategic partnership with SWISS will also give us access to new customers in new markets for our hotel arrangements." 
SWISS and Edelweiss Air have served largely complementary destinations to date. By amalgamating their activities, the partners can achieve sizeable synergies in terms of distributing their capacities and optimising their flight schedules. The parties agreed not to divulge the purchase price involved. In view of the organisational and system modifications required, the collaboration is expected to enter into full and tangible effect with the start of the winter schedules at the end of October 2008.

Kuoni continues to grow
Income statement 
in CHF million
 1.1 - 30.9.07   1.1 - 30.9.06 Change in % 
Turnover 3 515 3 062 +14.8 
Gross profit 756.6 649.6 +16.5 
Gross profit margin (%) 21.5 21.2 
Earnings before interest and taxes (EBIT) 103.5 88.3 +17.2 
EBIT margin (%) 2.9 2.9 
Net result 99.2 86.7 +14.4 
Free cash flow 218.1 177.4 +22.9 

The Kuoni Group's total turnover for the first nine months of 2007 was a 14.8% improvement on the same period last year. Organic growth accounted for 4.9 percentage points of this turnover increase. EBIT for the period showed even greater growth of 17.2%.
Free cash flow stood at a record CHF 218.1 million.
Strategic Business Units Asia & Destination Management and Scandinavia posted excellent results for the period, while Strategic Business Unit Europe delivered an encouraging performance. Kuoni Switzerland saw the launch of a restructuring programme to raise its currently-weak margin performance. At Kuoni UK, the new management is now in place and is currently devising the actions required to bring the unit back onto a successful track.
The Kuoni Group further expanded its strong position in the specialist segment through the acquisitions of CV Travel (UK), Les Ateliers du Voyage (France) and UTE Megapolus (Russia), while the acquisition of Denmark-based tour operator Falk Lauritsen Rejser A/S strengthened Kuoni's position in the Danish travel market.
The structural adjustments announced under the present corporate transformation are proceeding according to plan. 
From its current perspective, the Kuoni Group expects to post turnover of more than CHF 4.5 billion and an EBIT of more than CHF 130 million for 2007 as a whole.