On-line travel business Webjet (WEB) surged +10.14% yesterday following a better-than-expected first-half report. Revenue was 77% of pre-COVID levels while costs appear well controlled. From a sector perspective, WEB is now evolving as a far better play than rival Flight Centre (FLT) as Australians start to travel as pandemic restrictions are lifted, ironic really as the country starts to experience another Covid wave but we are all simply learning to live with the virus, let’s hope travel destinations adopt the same attitude.
- We can see WEB testing the $7 area over the coming months.
MM now likes WEB into 2023
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