Flight Centre Travel Group Half-Year FY23 Financial Results
Flight Centre Travel Group (FLT) has released its 2023 fiscal year (FY23) 1H accounts.
As foreshadowed in FLT’s January 31 trading update, the company delivered higher than initially expected underlying earnings before interest, tax, depreciation, and amortisation (EBITDA) of AUD$95 million for six months to December 31, 2022.
For the full statement to the ASX, CLICK HERE.
Comments by Chris Galanty, Global CEO, Flight Centre Corporate:
“Worldwide, our global corporate business is deep into recovery with record 1H TTV – almost 150 per cent growth on the FY22 1H result – outpacing the broader industry. This unequivocal rebound reinforces the importance clients are placing on travel as a critical driver for economic success.
Our winning growth strategy combines COVID-period investments in new FCM and Corporate Traveller platforms, compelling customer offerings and improved distribution capabilities through our TP Connects platform. We’ve also concentrated on our people, prioritising recruitment, training, and development so we’re fully equipped to help clients navigate and minimise frictions in a more complex travel environment.
This approach has given us a distinct competitive advantage and enabled our duo of category-leading brands to boost market share by retaining, winning, and implementing a larger volume of business – some not yet fully reflected in our FY23 1H results.
“As the global economy remains under pressure, the outlook for corporate travel is positive, evidenced by a robust performance to date. In the second half, we expect to benefit from further stability in global airline capacity and fares, coupled with strengthening of our regional performance, particularly in Asia where travel has recently resumed in markets like China.
“While there may be further challenges ahead, our ability to flex and adapt means our corporate business is well placed to benefit and keep pace in the year ahead.”
