Qantas said it bought the company because of the growth it has forecast in the online packaged holiday market which is currently worth an estimated $13 billion.

The acquisition would mean travellers can earn Qantas loyalty points through using TripADeal.

Qantas said pre-Covid, TripADeal had an annual growth rate of 40 per cent and in the year before the pandemic it booked $200 million in travel.

The deal is structured so Qantas has the option to buy the remaining 49 per cent of the company in four years at an agreed multiple of TripADeal’s bookings at the time.

Qantas chief executive Alan Joyce said there was a huge shift to online booking.

“Partnering with TripADeal means we can make Qantas Points part of the equation, which is great news for our frequent flyers and loyalty business more broadly.”

TripADeal was founded by Norm Black and Richard Johnson. It employs about 100 people in Byron Bay and the Gold Coast.