News

The Australia-NZ travel bubble has already led to a massive spike in bookings – but authorities don’t expect tourism to hit pre-pandemic levels before 2022

Airlines and travel agencies have reported hundredfold spikes in interest for destinations in New Zealand, after the two-way quarantine-free travel bubble was revealed. Reciprocal travel will open at midnight on April 18, allowing travellers to cross the Tasman without undergoing mandatory COVID-19 hotel quarantine. Some travel mainstays remain cautious about […]
The Australia-NZ travel bubble has already led to a massive spike in bookings – but authorities don’t expect tourism to hit pre-pandemic levels before 2022
News

The travel, hospitality and accomodation industries have hit out at the government’s ‘meagre’ tourism rescue package

The Australian government’s $1.2 billion tourism rescue package has been met with a mixed reception, with some industries frustrated that the aviation sector has received so much support. While Qantas CEO Alan Joyce proclaimed the stimulus package “ticks all the boxes”, accomodation, tourism and hospitality operators say there’s little in […]
The travel, hospitality and accomodation industries have hit out at the government’s ‘meagre’ tourism rescue package
News

Aussie travel agency Flight Centre just became embroiled in the Fyre festival saga

Australian travel agency Flight Centre has been dragged into the fallout of the fraudulent Bahamas music festival Fyre. A trustee for Fyre Festival’s failed entity has taken Brisbane-based Flight Centre’s US subsidiary to a New York bankruptcy court, seeking to reclaim $US121,400 ($A179,000), according to documents obtained by The Australian […]
Aussie travel agency Flight Centre just became embroiled in the Fyre festival saga
Markets

Flight Centre hit with court case alleging underpayment of workers

Federal Court case filed against Flight Centre amid accusations of underpayment. Flight Centre rejects claims, saying company acted correctly, share price drops 11.7% on news. Maurice Blackburn said it hopes the case will act as warning to other companies to fix pay issues. Flight Centre is under fire after lawyers […]
Flight Centre hit with court case alleging underpayment of workers
Markets

Flight Centre shares are taking a beating

Shares in Flight Centre fell sharply after the travel agent released a cautious outlook for full year results. A short time ago, the shares were down 9.7% to $46.20. In an update to the AGM, the company says it expects underlying profit before tax of between $140 million and $150 […]
Flight Centre shares are taking a beating
Markets

Flight Centre shares are falling despite strong profits

Flight Centre posted net profit after tax $262.93 million, up 13.9%. A record total transaction value of $21.8 billion, up 8.5%. Revenue of $2.95 billion, up 6.5%. Travel agent Flight Centre posted a 14.5% increase in net profit after tax to $264.21 million, fuelled by strong international businesses. The total […]
Flight Centre shares are falling despite strong profits
Markets

Flight Centre has been fined $12.5 million for ‘price fixing’

The Federal Court upped Flight Centre’s airfare price fixing penalty to $12.5 million from $11 million. Flight Centre says the full year market guidance of an underlying profit before tax of between $360 million and $385 million still stands. The company is examining today’s judgment and will consider whether there […]
Flight Centre has been fined $12.5 million for ‘price fixing’
Markets

Flight centre has upgraded its profit forecast for 2018

Travel agent Flight Centre expects underlying profit over the first half to rise by between 6% and 19% driven by its international businesses. Co-founder and managing director Graham Turner says the company is tracking to an underlying first half profit before tax of a $120 million to $135 million, 6% […]
Flight centre has upgraded its profit forecast for 2018
Markets

Flight Centre profit falls, its shares go nuts

Shares in Flight Centre surged after the travel agent posted its annual results showing a 5.6% fall in net profit to $230.77 million. A short time ago, the shares were up 10% to $48.91. Revenue was up 1.3% to $2.68 billion for 2017 and the company is forecasting less airfare […]
Flight Centre profit falls, its shares go nuts
Markets

Flight Centre is about to hit a record $20 billion in sales

Flight centre is about to post record full year sales of $20 billion after a revival of fortunes sparked by an end to international airfare discounting in the second half of the financial year. In a market update, the company says it expects to achieve an underlying profit before tax […]
Flight Centre is about to hit a record $20 billion in sales
Markets

Flight Centre’s acquisition spree in Europe turns to artificial intelligence

Flight Centre Travel Group has further strengthened its footprint in Europe, taking a minority interest in 3Mundi, a travel and technology company with operations in France, Switzerland and Spain. The Australian company will initially invest in a 25% interest in the Paris-based business, with put and call agreements to allow […]
Flight Centre’s acquisition spree in Europe turns to artificial intelligence