Flight Centre Travel Group Nears £100m Acquisition of Iglu
Iglu, an online cruise travel agent backed by LDC, Lloyds Banking Group's private equity arm, is nearing a sale to Flight Centre Travel Group (FCTG) for about £100 million. FCTG, listed on the Australian Securities Exchange and owner of Scott Dunn, is the frontrunner to acquire Iglu. The company runs a cruise price comparison site and was founded by Richard Downs. Rothschild is advising Iglu's shareholders on the sale, though LDC has not responded to requests for comment. Flight Centre Travel Group already owns Scott Dunn, which it purchased for just over £120 million around three years ago, and has revitalized its Cruiseabout brand to strengthen its cruise offerings. The potential deal could be announced imminently as of 18 November 2025. Industry context highlights a forecast increase in global cruise passengers from 31 million in 2023 to 39 million by 2027.
