Consignia boosts travel services
The Post Office, part of the loss-making Consignia group, has joined forces with Bank of Ireland offshoot First Rate Enterprises in an attempt to boost its position in the £26bn UK travel services market.
The joint venture, to be known as First Rate Travel Services, will supply foreign currency to more than 17,500 post office branches, as well as to banks, building societies, hotels and other groups offering a bureau de change service.
It will also offer car hire, travel insurance and home delivery of foreign currency, and is looking to expand its product range to include discounted airport parking and hotel rooms.
David Cromwell, commercial partnerships director at the Post Office, said the venture would increase the organisation’s focus on the travel services market. “It will utilise the inherent strength of both the Post Office and First Rate Enterprises to further develop and grow market share.”
The new business hopes to set up a one-stop travel shop on its website by teaming up with groups offering holidays and airline tickets.
News of the deal came as postal regulator, Postcomm, issued three more interim licences as part of plans to open the British postal market to competition. The licences have been awarded to Securicor Omega Express, Datarun and London Underground, following a 30-day consultation period. Securicor and LU want to provide internal mail services.
