Skip to Content
scroll

Flight Centre (FLT) $21.19

FLT -6.65%: Was hit today after saying that their FY EBITDA will be a loss of $195-$225m despite seeing positive trends in recent months. They talked to a strong recovery from late January/early February as Omicron concerns abated & as travel restrictions ease with their global corporate business profitable in March. Their leisure business is close to breakeven in March & expected to recover further during Q4 while they see large potential upside, particularly in US, with many customers just resuming travel programs. They sighted a lack of capacity on international routes out of Australia as an issue currently, however that’s expected to ease during 4Q. Clearly a turnaround happening, just taking longer than expected, plus don’t forget about the hugely dilutive equity raise they were forced to do during Covid.

FLT
MM prefers QAN to FLT in the travel sector
Add To Hit List
chart
image description
Flight Centre (FLT)
Back to top