Improving travel confidence fuels sales recovery.
Flight Centre has demonstrated the beginnings of a solid recovery in Total Transaction Value (TTV) for the six months to 31 Dec 2021, with the company’s latest financial report showing a 113% growth to around $3.3 billion when compared to the previous corresponding period.
Revenue also rebounded for the business by 98% to $315.7 million fueled by periods of reduced travel restrictions, however, Flight Centre is still yet to move back into the black, reporting a statutory loss after tax result of $194.12 million for the six-month period.
CEO Graham Turner said the financial outlook for the travel sector was now “significantly brighter”, but cautioned future variants, tensions between Ukraine and Russia and minimal visibility around recovery timings are making it difficult to provide accurate outlook projections.
More details in today’s issue of Travel Daily.