Flight Centre recorded a full-year statutory profit of $70.5 million,swinging from a $377.8 million loss the year before. Its total transactions doubled to $22 billion.
The travel agent said macroeconomic conditions had not been “significantly impacting” demand in the first six weeks of this financial year,with its earnings already markedly higher than during the same,COVID-19-affected,period last year.
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Flight Centre will issue a dividend for the first time since the pandemic. Shareholders will receive a fully franked payout of 18¢ per share. The company plans to adopt a new capital management strategy this year to pay out more than 50 per cent of its net profit as dividends or buybacks.
Presenting the results,Turner – who founded the travel booking behemoth in the 1980s – reiteratedhis criticism ofthe government’s decision to reject an application from Qatar Airways to double its flights to Australia.
“This is a significant blow. No other part of the tourism and aviation sector can rationalise it. I don’t blame Qantas for its lobbying,but I am concerned it was successful,” Turner said.