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Let’s head to this week’s top news:

  • Travelsoft wide expansion continues. After the acquisition of French travel publication L’echo Touristique a few weeks ago, TravelgateX announced yesterday that it is joining Travelsoft. This strategic move aims to consolidate TravelgateX’s position as a leading software provider in the tourism industry, while maintaining its operational independence. The integration will leverage Travelsoft’s global resources and presence to enhance stability and expand reach. The integration will leverage Travelsoft’s global resources and presence, providing TravelgateX with enhanced stability, greater market reach, and access to a potential audience of over 500 million people.
  • Leveling up insurtech. Insurtech specialist Cover Genius has raised $80 million in a Series E funding round. The funds will support growth and technology investment, including enhanced digital insurance distribution and AI-driven claims handling. Achieving 107% year-over-year growth in 2023, Cover Genius focuses on key markets like travel, retail, and logistics, partnering with brands like Uber, Ryanair, and eBay.
  • No IPO… for now. Travel giant Oyo has withdrawn its IPO application but hasn’t shelved its plans to go public. The company is focused on refinancing a $450 million loan to secure better terms and save on interest expenses. They plan to revisit the IPO after completing this refinancing process.
  • Airport in the City. In collaboration with ITA Airways, Rome’s Airport (ADR) has launched a check-in and baggage delivery service at Termini Station in Rome. Passengers flying with ITA Airways can check in and drop off luggage at least 3.5 hours before departure, then collect it at their destination. This initiative, called “Airport in the City” is uncommon in Europe, but aims to enhance convenience for travelers and promote Rome as a travel hub.
  • AI’s Impact on Jobs Worldwide. The first Global AI Jobs Barometer, done by PwC reveals that AI-exposed sectors like financial services and IT see nearly five times higher productivity growth. Skills demanded by employers in AI-using roles evolved 25% faster than in less AI-enabled jobs. Interestingly, careers needing human touch, like yoga instruction, remain in demand.
  • Passengers everywhere. The multinational SITA, a global leader in air transport technology, has acquired Materna IPS, a leader in passenger handling for airports and airlines. While the deal is subject to regulatory approval, this acquisition is set to boost SITA’s passenger processing capabilities, creating the world’s most powerful passenger processing portfolio. It will help airports upgrade their services with new technology.

150 editions ago, in the midst of the pandemic, we felt a gap in the reporting of the travel tech scene in Europe. So, we launched the very first edition of FutureTravel.

Today, we are proud to have an amazing community of readers, partners, clients, and friends throughout the travel ecosystem.

While we’re just getting started, it feels fantastic to celebrate this milestone with over 24,000 subscribers from around the globe. Thank you for reading us every week! <3