The factors that could block Flight Centre’s resurgence

The global travel agency says transactions have been rising after the pandemic. But the bigger question among the bears is whether its profit margin can hit a lofty target.

Liam WalshReporter

Nov 19, 2023 – 3.08pm

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Key Points

Brisbane-based Flight Centre runs travel agencies globally with 12,000 staff.
Bulls say airfare price moderation could boost demand.
Bears question level of discounting for corporate travel clients.

Flight Centre chief executive Graham “Skroo” Turner was nursing the after-effects of a cold last week at the global travel agency’s annual general meeting.

It was a “Paris cough”, the 74-year-old joked, when his meeting address was interrupted by a croup. The bug was something Mr Turner picked up while meeting suppliers at the Rugby World Cup in Paris, as part of a business trip to Europe including celebrating a 50-year-old bus tour venture.

Liam Walsh writes on investigations and companies with The Australian Financial Review. He has won multiple media awards, worked in Japan and is now based in Brisbane.