Funds managed by affiliates of Apollo Global Management and Silver Lake will provide the rquity investment and will each get a spot on the company's board, according to Expedia. The funding is expected to close May 5.
Expedia said it expects the new funds to strengthen its financial flexibility and liquidity position. The travel industry at large has been among the hardest hit during the Covid-19 crisis. Airports appear nearly empty and airlines and hotels alike have been forced to deal with a huge wave of cancellations.
Cool. Maybe now i'll get the credit or refund for the flights that we're cancelled on March 31st. Because i'm still waiting....
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