Qantas takes controlling stake in analytics and actuarial business Taylor Fry
Qantas has taken a 51 per cent controlling stake in Australian and New Zealand analytics and actuarial consulting business Taylor Fry as the airline’s loyalty department continues to beef up its data and analytics capability.
Taylor Fry will run as a separate business and retain its existing name, branding and premises.
The move follows on from Qantas Loyalty launching data marketing business Red Planet in September last year.
Qantas Loyalty CEO Lesley Grant said in a statement: “Qantas Frequent Flyer remains at our core, but as part of our growth strategy we are pursuing opportunities to work in the emerging industry of ‘big data’ and data driven customer insights.
“Harnessing data is not new to us thanks to over 27 years of knowledge and insights from Qantas Frequent Flyer, so we certainly feel we have the credibility to operate in the data and analytics space and consider this an area of great potential for our business.”
Taylor Fry launched in 1999 when the founders identified a gap in the market for the provision of actuarial services to general insurers and accident compensation schemes. For the year to June 30 the company reported revenue of $12m.
The initial Taylor Fry board will consist of Qantas representatives Qantas Loyalty CEO Lesley Grant, Qantas Loyalty executive manager of commercial and CFO, general counsel Qantas Andrew Finch as well as Taylor Fry board members Martin Fry, Alan Greenfield, Win-Li Toh.
Taylor Fry chairman Martin Fry said: “There is a strong synergy between the Qantas Loyalty and Taylor Fry businesses and we’re excited about the growth opportunities that this acquisition presents.”
The news of the acquisition coincides with the airlines half yearly financial result, with the airline reporting a statutory profit after tax of $206m for the six months ended December 31.
Qantas Loyalty reported a half year underlying earnings before interest and tax (EBIT) of $160m.
According to the results, the Qantas Frequent Flyer program added more than 400,000 new members in the half to reach a total membership of 10.5m.
Miranda Ward
Miranda Ward worked for Mumbrella from 2013 to 2017, eventually becoming deputy editor. Miranda joined Mumbrella in September 2013 from Sky News.
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