Shares in Webjet’s consumer-facing business sank after being demerged on Monday, as the cooling economy and slowdown in domestic travel weighed heavily on investors.
Webjet Group chief executive Katrina Barry said before the ASX listing that the business-to-consumer (B2C) arm would be the biggest beneficiary of its demerger as more focus was spent on the online travel agency.
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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
