Why it matters: a rebound at travel agents reflects a broader tourism resurgence
Transaction volumes at Helloworld more than doubled to $2.57 billion this year
But the company warns travel won’t normalise until 2025 as capacity returns
Helloworld shares were sharply higher on Monday after the travel agent said it had swung back to a profit and that it would continue growing earnings as international travel rebounds.
The volume of transactions more than doubled in the 12 months to June 30, from $1.08 billion in the last year, which took in a period of COVID-19 restrictions, to $2.57 billion. It remains below pre-pandemic levels.
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Ayesha de Kretser is a senior reporter with The Australian Financial Review covering the aviation and tourism sectors. She has previously reported on banking, mining and commodity markets. Connect with Ayesha on Twitter. Email Ayesha at ayesha.dekretser@afr.com.au
