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El Corte Inglis studies the sale of its travel division

El Corte Inglis studies getting rid of its Travel Division of El Corte Inglis, its second billing line and the third by contribution to the results. And it is that the group is immersed in the search of measures to continue growing and fulfilling, at the same time, with its financial obligations with the creditors.

The chain considers the possibility of creating a real estate company in order to make its assets profitable, as well as a renewable energy company.

Likewise, they affirmed that the group will move soon, after having analyzed different alternatives to monetize Viajes El Corte Inglés, which contributes 17% of the turnover of the holding company. These voices insist that the sale of the travel division has already been discussed in the board of directors and that several members have shown themselves in favour.

Viajes El Corte Inglés recorded a turnover of 2,722 million euros in 2018, representing a growth of 4.9%. In addition, it obtained a gross operating profit of 48.08 million and the net result amounted to 33.49 million (+ 18%). The English Court, meanwhile, has 496 delegations in Spain, 22 in Portugal and 107 in other countries, mainly in Latin America.

Source: tourinews.es

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