The ASX-listed travel agent is tipping better conditions for fiscal 2023 after narrowing its losses for fiscal 2022. | By Carla Jaeger travel
Flight Centre says the barrage of cancellations, delays, higher airfares and reduced airline capacity is fuelling the “renaissance of the expert travel advisor”, with the ASX-listed travel agent tipping better conditions for fiscal 2023.
Flight Centre chief executive Graham Turner said the company was looking to a “brighter outlook” for 2023.“This more complex environment is fuelling what we are referring to as a ‘renaissance of the expert travel advisor’, as our people help the travelling public chart a path through this temporary turbulence.”
The company also acknowledged an uptick in new customers, with a bigger cohort of young travellers connecting with Flight Centre. Demand from that segment increased from 16 per cent to 25 per cent in the full-year, according to Flight Centre. CFO Adam Campbell said higher airfare prices, and lack of capacity on planes, as well as changes to supplier arrangements, including commission reductions from some airlines in Australia and New Zealand, were the cause of the margin drop.
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