Articles tagged “flight centre”

It sure looks like global corporate travel giants are starting to take the small- to medium-size business travel market seriously. For some startups that didn't find traction in the marketplace, this means another shot at success.

Cruise customers, who are shrugging off the recent Viking Sky dramas, seem to be a hardy bunch. Advisors have been spared a flood of cancellations, and it looks like business as usual for cruising.

Traveloka is going after a slice of the Australian online travel market. That's brave. Even though the market is robust, the space is highly competitive. While Indonesia is popular among Australians, travelers still mainly prefer Bali, which is like their backyard. So what has Traveloka to offer?

Flight Centre’s latest North American acquisition looks like a win-win. Casto Travel gets access to the group’s technology, buying power, and marketing reach while the Australian-headquartered travel group expands its footprint in Silicon Valley.

Flight Centre founder Scroo Turner must be wondering what it takes to keep the market happy. His company reported revenue and profit growth, but still its shares were slashed, with traders wiping more than $50 million off its value.

Most of Flight Centre’s acquisitions to date have been about adding market share and a broader international footprint, but the Australian company is now looking for tech advantages. It's hoping Canadian itinerary management platform Umapped will raise its game.

Negative press about working conditions and markups has dented Flight Centre’s stock price, despite record financial results. The claims have been denied, but the share price is still suffering. The mural incident doesn't do anything to bolster confidence in corporate culture.

No word on yet on what activist hedge fund investor Paul Singer of Elliott Management might try to pressure Travelport do this year. But research analysts expect that, at the very least, the travel technology company will be pressed to spin off its fast-growing eNett payments business.

Australia’s largest travel agent, Flight Centre, is not resting on its laurels after posting record revenues and strong profits. To ensure it stays on track, the group is shedding underperforming businesses, and dumping some of its leisure brands. It is also chasing growth in emerging business lines ranging from destination management to foreign exchange services.

Can a legacy brand like Flight Centre really transform itself and get more digital and global? The company is making the investments and acquisitions in people and technology to do so. Will the strategy be successful? It will take a few years to find out.