Flight Centre Travel Group Upgrades its FY22 Market Guidance

Flight Centre Travel Group Limited (ASX: FLT) upgraded its FY22 market guidance after strong travel demand globally late in the year. For the year ended 30 June 2022, the company anticipates to record an underlying EBITDA loss to be in the range of AU$180 million to AU$190 million, which driven by the increased demand after concerns about the Omicron strain abated and as governments globally eased or removed the restrictions that had grounded most non-essential travel since the start of the pandemic.

The mid-point in the new range, an underlying AU$185 million EBITDA loss, represents an 11.9% improvement on the mid-point in its initial FY22 market guidance of an underlying loss between AU$195 million and AU$225 million and a significant improvement on FLT’s AU$337.9 million FY21 underlying EBITDA loss. With the increase in demand, for FY22, the total transaction value topped AU$10 billion, which is more than two-and-a-half times the AU$3.95 billion FY21 result.

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