Flight Centre predicts $500m full-year loss, but quarterly TTV back above billion-dollar mark

Melbourne, Australia: April 12, 2018: Street view of a Flight Centre shop window. Flight Centre is Australia’s largest travel agency selling international flights, holidays and tours. A man walks past.
By Travel Weekly


Flight Centre Travel Group (FCTG) is expecting a loss of roughly $500 million for this financial year, but is hopeful of returning to profitability in FY22.

In a presentation for investors at a conference hosted by banking giant Macquarie, FCTG supremo Graham “Skroo” Turner and chief financial officer Adam Campbell revealed that the company is expecting its losses in the second half of FY21 to be broadly in line with the first half, meaning a full-year loss of circa $500 million.

However, FCTG has headed into the final quarter of the current fiscal year with the wind in its sails.

The travel giant’s March turnover was more than $100 million higher than in February – up 32.7 per cent month on month – taking gross quarterly total transaction value (TTV) back above the billion-dollar mark for the first time since the COVID-19 pandemic struck.

FCTG’s global leisure TTV was tracking at 14 per cent of pre-COVID levels at the end of the third quarter due to tighter restrictions for discretionary travel, a high cost base and a historically heavy reliance on international travel.

However, the company is witnessing “encouraging signs” in Australia for its leisure division. The presentation also noted that the flightcentre.com.au website generated 30 per cent of the Flight Centre brand’s TTV in March.

FCTG’s corporate division was tracking at 29 per cent of pre-COVID levels at the end of Q3, with Australia recovering more rapidly than the global corporate business, but at a lower-than-normal revenue margin.

The company recently completed rebranding exercises for both its Flight Centre and FCM brands.

Latest News

  • News
  • Tourism

Expedia Group says affluent Asian travellers will boost global travel industry

Expedia Group has published a study which highlights the preferences of the growing Asian middle class, expected to reach 3.5 billion people and makes up two-thirds of the world’s middle class by 2030. The study provides travel industry professionals with the context to better serve the increasing number of mass-affluent travellers from Asia and tailor […]

Travel DAZE Speaker Dee Madigan tackles polarisation at DCA debate

Diversity Council Australia (DCA) and IAG have announced the return of the Diversity Debate. This year’s debate takes place on 22 October 2024 in Sydney and will tackle one of the most pressing issues facing Australian organisations in 2024: polarisation. The evening promises not just a rigorous examination of this timely topic but also lively […]

  • Food & Beverage
  • Hotels

La Tour d’Argent reveals menu for the Sofitel Legend Metropole Hanoi

The legendary 400-year-old Parisian dining establishment, La Tour d’Argent, has unveiled an exclusive menu to be served at Sofitel Legend Metropole Hanoi. Metropole’s modern French fine-dining restaurant Le Beaulieu welcomes the culinary team from La Tour d’Argent from 23 to 27 October for a unique gastronomic takeover, offering guests and local diners an extraordinary 8-course […]

  • Events

TAG partners with SXSW Sydney 2024

The award-winning travel and event management company, TAG, has announced its partnership as the preferred travel partner for the 2024 SWSX Sydney at ICC Sydney. TAG (The Appointment Group) is set to deliver a range of experiences at the event, including a panel discussion, “Trends, Technology, and the Future of Business and Leisure Travel.” Speaking […]

  • Aviation
  • News

More than 2500 flights cancelled as Florida braces for Hurricane Milton

A total of 2,632 flights have been cancelled in the US today as Florida braces for Hurricane Milton. Milton was initially feared to be a category five storm, however, it has since been downgraded to category three. The National Hurricane Centre has predicted it will be “one of the most destructive hurricanes on record for […]

  • News

Globus family of brands picks Allianz as insurance partner

Globus family of brands (GFOB) has partnered with Allianz Global Assistance (AGA) as the company’s new travel insurance partner. From today, guests can purchase a range of cover from AGA on all bookings with Globus, Cosmos and Avalon Waterways. To celebrate the partnership, GFOB is offering a 10 per cent discount on travel insurance plans […]

  • Tourism

Global tourism roars back to life with APAC leading the way

The global tourism industry is roaring back to life as international arrivals are up 16 per cent compared to 2023, a resurgence is largely fuelled by the Asia Pacific region particularly Australia, ForwardKeys reported at the World Travel & Tourism Council Global Summit in Perth. While the region still lags pre-pandemic levels, the current pace […]

  • Conferences
  • First Nations
  • Tourism

WA leverages Indigenous heritage as a key topic at WTTC Global Summit in Perth

Western Australia has leveraged its Indigenous heritage as one of the key topics of the annual World Travel & Tourism Council Global Summit being held in Perth (Boorloo). “Indigenous tourism has immense potential, empowering communities to be in control of their own stories and their own economic futures now that is regenerative tourism tomorrow,” WTTC […]

  • Aviation

Delta Airlines opens the premium Delta One Lounge at LAX

Delta Air Lines has opened the Delta One Lounge at LAX, following the opening of the one at JFK in June 2024, bringing the premium lounge experience to the West Coast. The second Delta One Lounge, adjacent to the Delta Sky Club at terminal three and seats nearly 200 guests, is directly connected to the […]