Media Releases

Flight Centre Limited Lands in Indian Leisure Travel Market

Dec 19, 2007

Global travel retailer Flight Centre Limited has boosted its presence in India by expanding into the country’s emerging leisure travel sector.

The company, which operates successfully in India through its corporate travel business FCm Travel Solutions, has today opened its first leisure travel shop in the country.

The shop is located in New Delhi and will trade under the Flight Shop banner.

Flight Centre Limited global managing director Graham Turner said entry into the Indian leisure travel market represented the company’s first international expansion in the leisure sector since opening in the United States in 1999.

Mr Turner said the new business would give Flight Centre Limited leisure travel shops in Australia, New Zealand, South Africa, the United States, Canada, the United Kingdom and India.

He said Flight Centre Limited also had a presence in more than 50 other countries, including company-owned businesses in China, Hong Kong and Dubai, through its rapidly expanding FCm Travel Solutions corporate travel network.

“Developing a leisure travel presence in India is a small and strategic investment for Flight Centre Limited and is in line with the company’s strategy of growing in new geographies,” Mr Turner said.

“We see potential to provide a valued service to the leisure travel market and to build on the success we have experienced in the corporate travel sector in the country.

“With the Flight Centre name unavailable in India, we believe that the Flight Shop branding appropriately conveys the company’s services to the Indian market.

“Subject to the business’s performance, we expect slow but steady growth in this market in the future.”

Flight Shop outlets will operate alongside the FCm Travel Solutions business, which is headed by Rahul Nath. FCm’s vice president, Gaurav Luthra will head the leisure operation.

Flight Centre Limited Boosts 2007/08 Outlook

Dec 13, 2007

Flight Centre Limited (FLT) has boosted its outlook for 2007/08, following a strong start to the fiscal year.

Preliminary trading results for the five months to November 30 2007 point to an $85-$90million pretax profit for the first half, a 60-70% improvement on the previous corresponding period.

During the six months to December 31 2006, FLT recorded a $53million half year result, excluding the abnormal gain from the company’s Adelaide Street building sale.

FLT managing director Graham Turner said while results during 2006-07’s first half were relatively disappointing strong growth in 2007/08 pointed to a healthy full year outcome.

“Operational improvements and good trading conditions generally have fuelled strong global sales growth and laid the foundations for the full year,” Mr Turner said.

“Total transaction value continues to track above our target of 15% annual growth. The second half of 2006/07 was, of course, an extremely strong period, so it will be difficult to maintain this growth trajectory for the full year.

“Based on our performance year-to-date and with a small second half profit contribution likely to come from the Liberty acquisition in the United States, we now expect in the order of 25% growth in pretax profit for the full year.”

During 2006/07, FLT recorded a $151.6million pretax profit, excluding the abnormal building gain.

FLT will release its half year results on February 26 and expects to provide additional commentary on its full year outlook at that time.

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