The Webjet plan that sparked a fight with big egos and big money
When a company’s five-year plan is more attractive to suitors than investors, the conditions are set for a delicious takeover battle. Webjet is one to watch.
Newly orphaned, overlooked and unloved, online travel agent Webjet could’ve disappeared from the ASX and not too many investors would have blinked.
New chief executive Katrina Barry had a chance to turn sentiment at the company’s inaugural strategy day on March 19. Six months into the job, and six months after Webjet was spun off by bigger brother Web Travel Group (a newer B2B booking company that swamped its B2C stablemate), she pitched a five-year plan to revitalise the company’s “iconic” brand (Webjet’s words, not ours), expand its addressable market, launch a loyalty program and double the value of annual transactions by 2030.
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Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com
