(Alliance News) - On the Beach Group PLC on Tuesday said it has signed a long-term distribution agreement with Ryanair Holdings PLC.
On the Beach is a Manchester, England-based online beach holidays retailer. Its shares were up 10% to 155.67 pence each in London on Tuesday morning.
Shares in the Dublin-based low-cost airline, Ryanair, were down 0.2% to EUR20.37 each in Dublin.
The agreement allows On the Beach customers to access Ryanair's low fare flights as part of their holiday packages with full price transparency, whilst continuing to benefit from OTB's flexible payment plans, customer perks, and ATOL protection.
Under this new agreement, On the Beach agrees that it will only display Ryanair's real prices, without mark-ups and will only pass all relevant customer contact and payment details to Ryanair.
On the Beach Chief Executive Shaun Morton said: "This will improve the booking and travel experience for our customers selecting Ryanair flights, while ensuring we can continue to provide customers with best value package holidays. We will continue our campaign to safeguard consumer choice in the travel sector and the signing of this agreement marks a significant milestone in On the Beach's journey, as we strive to do the best for our customers. Importantly, this agreement enables both parties to move on from outstanding litigation and we look forward to working closely with our new partner."
By Sophie Rose, Alliance News senior reporter
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On The Beach (OTB)