Flight Centre managing director Graham Turner said travel demand is back to normal after a surge following the COVID-19 pandemic, with younger travellers – facing higher mortgages, rent and power bills – spending less than before.

The travel booking company reported record total transactions in the year to June 30, surpassing 2019’s pre-pandemic transaction numbers. It hit a pre-tax profit of $320 million, up 131 per cent on the previous year and will pay a fully franked 30¢-a-share final dividend in October.