The Ukrainian tour operator GTO Travel and Kazakh Kompas have announced a merger and the beginning of work under the single brand Kompas.

Kompas CEO Anna Solovyova said at a press conference in Kyiv the company's cooperation has begun and has been successfully continuing for several years.

"We have been cooperating for several years, during which we have implemented joint projects and gradually came to consolidation. This is not a new stage, it's just an official announcement to become more transparent," she said.

According to her, Kompas is committed to a transparent business.

"We have far-reaching plans. Of course, not this year and not the next one, but I want to get to an IPO, this is goal number one for me. I want to make tourism transparent and honest. We are striving for this. Therefore we are trying to consolidate and open up," she said, noting that in 2017 the company entered the Kyrgyz market.

According to Head of GTO Travel Mykhailo Tiurin, the GTO Travel brand will be removed from use.

"It looks like the investment of the Kazakh tour operator in the Ukrainian one. The legal entity in Ukraine won't change, it will include new founders, a consolidated management body will appear," he said.

GTO Travel tour operator (Kyiv) was established in 2004. Its founders are Mykhailo Tiurin, Volodymyr Tiurin, Olena Tiurina, and Oleksandr Tiurin.

The company sends tourists to 61 countries.