The contrasting fortunes of Australia’s two biggest travel agency groups were highlighted yesterday when market leader Flight Centre posted a record first-half profit of $110.8 million while smaller rival Helloworld said it lost -$4.7 million over the same period.
Flight Centre’s Australian turnover grew 8% to $4,349m, revenue increasing 10%. Helloworld’s turnover rose 1.2% to $2,524 million and revenue fell -11.4%.
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Currently the flight industry is unpredictable as anything else and profit and losses are only going to get worse with the current climate rapidly changing.