Ian Swain, who founded Swain Tours with
his wife Linda in February 1987, revealed that he bought the
company back from the Travel Corp. July 7.
TravelWeekly.com he purchased 100% of the company, which he has
been running since its inception, for an undisclosed amount and
said he has no immediate plans for change.
Swain sold Swain
Tours to Far & Wide Travel in 1999, and continued to run it as
part of the management of Far & Wide. One of the most
successful companies in the conglomerate, Swain Tours remained
profitable throughout Far & Wides lifespan, though Far &
Wide itself went bankrupt in September 2003.
After Far &
Wides collapse, Swain tried to buy the company back but was outbid
by the Travel Corp., which purchased the company for $3
Ive always been
interested in owning the company [again], Swain told Travel Weekly.
The Travel Corp. was aware of that. We came to an agreement about a
month ago. It was a very amicable separation.
[Swain uses] many
of the Travel Corp.s brands, like AAT Kings and Thompson Tours, and
were going to continue doing that.
Alan Kilkenny, a
spokesman for the Travel Corp. in London, confirmed the sale and
the amicable nature of the separation.
The Travel Corp.
thinks hes a great guy and we wish him well for the future, said
To contact reporter David Cogswell, send e-mail to [email protected].