Flight Centre buys in to Argentina group

Flight Centre has acquired a 24.1 per cent stake in Argentina's second largest travel group Bibam as it expands its footprint further.

Flight Centre has acquired a 24.1% stake in Argentina's second largest travel groups Bibam. (AAP)

Travel bookings company Flight Centre has acquired a 24.1 per cent stake in Argentina's second largest travel group Bibam for $US7 million ($A9.3 million).

The stake buy will give Flight Centre a low risk entry to the South American country and a footprint for further growth across multiple travel sectors, its Americas president Dean Smith said.

Buenos Aires-based Bibam operates the Biblos brand as well as the fast growing e-commerce player Avantrip.com. The business generates total transaction value if $US240 million annually.