Lithuanian flight claims management company Skycop has completed its takeover of its Estonian counterpart, Lennuabi. The financial details of the takeover deal will remain confidential, as per the terms of the agreement.
Under the new owners, Lennuabi will continue to maintain a separate brand and core team. However, the two companies “may share some of their technical and legal infrastructure” in future, such as “robotised and artificial intelligence-powered processes”, as well as a “trusted European network of legal advisers”.
Skycop says that Lennuabi “has established itself as the first port of call for disrupted, overbooked, or cancelled flight compensation management in Estonia”, and that it also has a “growing customer base in Finland”.
The company hopes that the acquisition will bolster its presence in the Nordic markets, and will “pave the way for further growth in the region”. Skycop added that the takeover is “the beginning” of its planned expansion programme for 2024–25.
According to Skycop CEO Tomas Vaisvila, the flight compensation management market has been growing “at par” with the post-pandemic travel recovery, as airlines are “still reluctant to provide a straightforward and user-friendly reimbursement mechanism”.
He added: “For this reason, we are embarking on a expansion and acquisition programme. Trust is key in this industry, and so we are proud to have a brand that Estonians and even Finns rely on in our business family. We are seeking further growth opportunities in the Nordics, but our ultimate goal is to reach the top-two position in the whole of Europe in the foreseeable future.”
Fellow claims management firm AirHelp revealed last month that 45 million UK passengers suffered flight disruptions in 2023.