Company now expecting to report breakeven result for six months to 30 June 2022.
Flight Centre has just issued an ASX market update, forecasting an “underlying EBITDA loss” of about $185 million for the 2021/22 financial year.
The company noted that would be a “material improvement” on the $337.9 million figure for the prior 12 month period, citing a “solid rebound in travel globally late in the year”.
The acceleration saw TTV for FY22 increase to more than $10 billion, tracking at close to or above pre-COVID levels in a number of Flight Centre Travel Group businesses lifted by both the demand increase and higher than normal ticket prices.
“After an incredibly challenging period, we were pleased to achieve our goal of returning to monthly underlying EBITDA profitability in both the corporate and leisure sectors late in the year,” said MD Graham Turner.
The company expects to release its audited FY22 accounts on Thursday 25 August.
More details in today’s issue of Travel Daily.