FLT +2.98%: travel agency company Flight Centre announced an upgrade to guidance for FY22 today on the back of a strong second half. EBITDA guidance was improved by ~12% at the midpoint to a loss of $180-190m meaning they may break even in the second half at the EBITDA line after posting a $185m loss in the first half. Total Transaction Volume (TTV) is expected to hit $10b after a surge in demand for both business and leisure travel supporting higher ticket prices in the period. Demand was running above pre-COVID levels by the end of the period, supporting profitability into FY23. They will report full-year numbers on August 25.
MM is neutral the travel sector
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