Web Travel Group Ltd (WEB)
I am a long term holder of Webjet and for months there has been very little movement. Suddenly it went down dramatically this morning - even with the general sell-off it seems to be excessive. Do you know why?
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Answer
Hi Judy,
WEB was smacked ~30% on Friday morning, to its lowest level since August 2020 after saying that the Spanish Tax Agency has commenced an audit of its Spanish subsidiary with regard to direct taxes between April 2021 and March 2024 and indirect taxes between January 2022 to December 2025.
Given the disastrous situation at Corporate Travel (CTD) — whose shares have been suspended since August 2025 following a serious of accounting and client-overcharging scandals in its UK operations, it’s easy to understand why investors in Webjet (WEB) fled.
- Europe has proved a very dangerous region for ASX travel stocks over the last year.
