Flight Centre Takes Aim at Essential Services Travel for the Road to Recovery
Photo Credit: Flight Centre Travel Group posted an overall loss of $370 million for its 2019/20 financial year. Flight Centre
Skift Take
With a narrowing pool of viable customers, in the form of governments and other essential service providers, the competition's going to be tough out there.
It’s a tale of two halves for Flight Centre Travel Group.
The Australian travel giant on Thursday posted an overall loss of $370 million for its 2019/20 financial year, with a total transaction value of $11.1 billion, down 36 percent compared to the prior year.
The Australian financial year ends June 30, and — like the rest of the world — things were going well up until the end of January. Prior to the coronavirus outbreak, the group achieved $109 million in global profits for the first eight months.
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It's also a tale of two halves for its leisure and corporate divisions, with the latter managing to post a full-year $54 million profit, buoyed by a strong first-half performance. Looking ahead, Flight Centre Travel Group is counting on FCM Travel Solutions and Corporate Traveller, its two business travel brands, to lead the recovery. Narrowing Down Flight Centre Trav
