Flight Centre warns of job losses across the industry and within the company.
Flight Centre has just confirmed it will be significantly impacted by recent COVID-19 related developments, including unprecedented government-imposed restrictions on international travel as well as major reductions in airline capacity.
As part of an urgent business review the company will hold discussions with landlords, suppliers, vendors, insurers and banks on ways to manage the financial impact of “a precipitous drop in travel activity in the near term”.
Flight Centre said it had also initiated talks with the Federal Government to discuss broader industry assistance packages, in light of the support being made available to airlines in Australia.
“Within this challenging trading cycle, the company will seek to preserve as many roles as possible, but job losses across the industry and within the company are inevitable,” according to MD Graham Turner.
He said Flight Centre was determined to overcome the significant challenges it currently faces, “and with the support of our stakeholders, is ready to prosper when conditions eventually normalise”.
More details in tomorrow’s issue of Travel Daily.