Despegar Finds Acquisition Bargains in Latin America's Hard-Hit Economies

Photo Caption: A Latam Airlines A320 at Teresina Airport in Brazil on March 31, 2022.
Skift Take
At the beginning of the pandemic, it was clear there would be plenty of mergers and acquisition targets. Despegar found at least a couple in Viajanet and Stays.
Despegar is hanging in there performance-wise, has high hopes for a pending acquisition of Viajanet at what might be considered an attractive price, and is investing in Brazil and Colombia to pick up market share.
Argentina-based Despegar, which does business in its largest market, Brazil, through its Decolar brand, intends to buy flight online travel agency Viajanet for $15 million based on a collapsed airline market — at half of Viajanet's $30 million in 2019 revenue. Despegar expects the deal to close in late June or early July.
During its first quarter earnings call Thursday, officials discussed diversifying Viajane