Skift Take
Not surprisingly, the CEO is backing his own turnaround plan, but he’ll have to deliver if the company is ever going to live up to its lofty IPO.
Online travel agency group eDreams Odigeo has been a stock market disappointment since its $1.5 billion IPO in 2014. In less than half a year its share price had fallen 75 percent — a decline from which it has never really recovered.
Perhaps it was this failure to recover that persuaded investors to look at taking the company private at the tail-end of 2017. The company didn’t take long to decide it wasn’t interested in selling, preferring instead to continue with its turnaround strategy.
The reason for turning down the approaches was essentially that whoever was bidding didn’t believe in the management team’s plan. The company is in the process of shifting from a flight-centric sales model to something a little more diversified, while at the same time being a lot more upfront and transparent with its prices – something that used to annoy a lot of people.
The rumored private equity bidders perhaps didn't buy into the narrative or maybe didn't care.
But should these changes bear fruit, then the logic goes that the company will be more successful
