According to a statement the purchase will allow Dnata, which is a subsidiary of airline Emirates, to benefit from the increasing popularity of online travel booking. Financial details for the transaction were undisclosed.

Travel Republic reported an increase of 40 per cent in its annual turnover for 2011 to £400 million. The business moved to reassure staff following news of the 75 per cent stake share sale.

Kane Price, managing director of Travel Republic, comments: ‘Dnata is forward thinking and ambitious and will help accelerate our growth across Europe and beyond.’

Surrey-headquartered Travel Republic was founded in 2003 by university friends Paul Furner and Chris Waite, with Pirie joining in 2005 as finance and operations director.

The company has recently launched sites in Ireland, Spain and Italy and has plans for further expansion across the rest of Europe, the business says.

Iain Andrew, division senior vice president of Dnata’s travel business, says the acquired business will complement Dnata’s existing leisure and corporate travel services internationally.

He adds: ‘The company has in impressive, dynamic management team and I am confident that together we can further develop the business.’