One of the well known names of the 1990s has come to the fore again, with the news that Lastminute.com has been put on the market by its present owner, the American company Sabre Holdings.
Sabre has clearly done one of the best business deals of the century. Lastminute.com never made any money in any financial period of its existence, and lost £250 million. Nevertheless, Sabre bought it in 2005 for £577 million. That is a lot of money to pay for a company that has never made a profit. Now, after nine years of losses, they are trying to unload the company, and they have admitted that they are unlikely to obtain £577 million, or anything like it. What a good business deal. Who is Sabre?