Local tour company buys Ambassadair
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Sandra Chapman/Eyewitness News
Indianapolis, Nov. 17 - Taking off to new horizons, the Ambassadair Travel Club is now under new ownership. A federal bankruptcy court cleared the way, allowing another locally owned family operated company, Grueninger Tours, to take over the controls.
Was the $300,000 price tag a steal? Grueninger President Michael Grueninger thinks, "it was good for both parties actually. We're excited."
"We've been in it for over 50 years and so it's a great win, win for everybody."
Ambassadair drew at least a half dozen suitors when it went up for sale last May. But Grueninger was the only one to emerge and make an offer for the nation's largest travel club.
For the last eight months, these two Indianapolis companies have been working behind the scenes to ensure what was started 30 years ago would not only continue, but soar to new heights.
"They were very concerned about what was going to happen to Ambassadair and the name and especially the loyal following that they do have."
So what does it mean for the club's 3,200 members and 65 employees? For starters, Ambassadair will keep its name and its travel schedule through March of next year. "There are about 113 trips scheduled that we're going to be running for them."
But there is the threat of layoffs. "We will actually be hiring the employees as needed, so you know how ATA handles that, that's not for me to say. They've got employees that have been there 20 to 25 years, and so to be able to join our team, we're thrilled with that," thrilled that ATA's crown jewel and the company his father started in 1954 with student tours to Europe are now linked to exciting destinations around the globe.
Grueninger Tours is working to combine some of its travel packages with Ambassadair destinations for spring break. Ambassadair officials had no comment about the buyout.
