Flight Centre boss Graham Turner says despite a ‘turbulent' 2025 financial year, the travel agency group is ideally placed to deliver rapid growth in coming years.
Flight Centre Travel Group's statutory net profit during the first six months of the 2025 financial year dipped from $86.7 million to $59.6 million, despite posting a flat revenue of $1.3 billion.
The federal government's $1.2 billion tourism package has faced widespread criticism with WA's leading industry body slamming the effort as pork barrelling for marginal electorates.
Flight Centre is closing 90 of its travel agencies across the world, having already cut about 4,000 jobs this year due to the pandemic ravaging the travel industry.
Virgin Australia has cut more flights, reduced executives' fees, and will seek relief from government charges as it joins rivals in attempting to soften the impact of the COVID-19 spread.
Flight Centre shares have dropped 12 per cent after Australia's biggest travel agency slashed its full-year profit guidance due to a weaker than expected performance in the local leisure market.