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Travel & Transport sold to Australian firm
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Travel & Transport sold to Australian firm

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Omaha-based Travel & Transport, one of the largest travel management companies in the world, has been acquired by an Australian company.

Corporate Travel Management, a publicly traded company based in Brisbane, acquired all of Travel & Transport's stock and said the company will be rebranded as Corporate Travel Management and Omaha will become its North American headquarters.

Travel & Transport CEO Kevin O'Malley, who will be CEO of Corporate Travel Management's North American operations, told employees in an email that it would have taken the company "several years to recover" from COVID-19 if it continued to go it alone and that the sale of the employee-owned company was good for the long term.

Travel & Transport, which has a Lincoln office at 70th Street and Pioneers Boulevard, earlier this year had to lay off 49 people because of financial losses from the drop in travel due to the coronavirus pandemic.

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Business reporter

Matt Olberding is a Lincoln native and University of Nebraska-Lincoln graduate who has been covering business for the Journal Star since 2005.

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