Flight Centre turns the corner
Flight Centre shares rose 20% yesterday as Founder and executive chairman Graham Turner said December quarter pre-tax earnings were expected to broadly match the previous corresponding period after adjusting for international financial reporting standards (IFRS).
Cost cutting and improved corporate travel performance were seen as the cornerstones of the resurgence.
Mr Turner said the unaudited results signalled Flight Centre had “turned the corner” after a “disappointing” first quarter that had exposed a “somewhat bloated and bureaucratic” structure as margins shrank.
“The second quarter achievements are pleasing and show that the steps we have taken to reduce costs and to build a stronger overall business are beginning to generate results,” he said.
Asked about the jump in the share price, Mr Turner said “We’ve been trying to ignore it for the past couple of years. But in the end it’s our results that will drive the share price and if we get the results the share price will move in the right direction.”
Mr Turner declined to comment on whether there had been any revenue growth.
But he said: “If we didn’t feel there were good growth prospects for our company, we wouldn’t be here and we will expand a bit more, particularly in the corporate area.”
“We are starting to see the benefits from our investment in creating the FCm Travel Solutions network,” Mr Turner said.
“With last year’s acquisition of India’s Friends Globe Travels – a business that is already delivering strong profit growth – and our investment in the joint venture in China, there are exciting opportunities for Flight Centre Limited and for FCm Travel Solutions in the world’s two growth economies.”
Graham Muldoon
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
France prepares for a massive strike across all transports on September 18
Turkish tourism stalls due to soaring prices for accommodation and food
CCS Insight: eSIMs ready to take the travel world by storm
Germany new European Entry/Exit System limited to a single airport on October 12, 2025
Airlines suspend Madagascar services following unrest and army revolt