Flight Centre (ASX:FLT) share price lifts 3% as NSW targets November international travel

Flight Centre shares rose today after news of a potential reopening for international travel.
The post Flight Centre (ASX:FLT) share price lifts 3% as NSW targets November international travel appeared first on The Motley Fool Australia. –

The Flight Centre Travel Group Ltd (ASX: FLT) share price rose by 3% today.

COVID-19 continues to cause major disruption to domestic and international travel.

However, there may be light at the end of the travel tunnel with the New South Wales Premier Gladys Berejiklian making comments about when the state will start welcoming international travellers.

According to reporting by The Guardian, when asked about whether the state would allow vaccinated Australians to come home from overseas for Christmas, Ms Berejiklian said:

If they are double dosed vaccinated, I think home quarantine is a definite. The traditional hotel quarantine system is no longer relevant when you have 80% of your population double vaccinated.

And it’s no longer relevant when the key issue is rates of vaccination. So things will look different.

And as I said if other states aren’t ready to welcome home Aussies at 80% double dose New South Wales will be.

And if means more citizens come through to the Sydney airport so be it, the more flights, the better. But obviously we’re working through those issues and discussing them at national cabinet and with the Prime Minister.

On top of that, The Guardian also reported that the Prime Minister Scott Morrison has commented:

In states that aren’t locking others out … there will be the opportunity for people to go and travel and return to Australia and quarantine at home, and that people in those states who are overseas can come back to Australia.

The caps that are on flights coming into those places … that aren’t locking others out, they will be able to receive more and more, and that will be a big change.

What does this mean for the Flight Centre share price?

Investors have sent the Flight Centre market capitalisation 3% higher than it was yesterday as it seems the business now has a target to work towards when it comes to international borders starting to open.

Flight Centre itself has said that it’s targeting a return to monthly profitability in both corporate and leisure during FY22. This relies on vaccine efficacy as well as governments opening borders and keeping them open.

The company previously said that had experienced strong and immediate rebounds after travel restrictions are lifted.

To reach break-even, the company needs to generate around half of its pre-COVID total transaction value (TTV) an 40% of its leisure pre-COVID TTV.

The post Flight Centre (ASX:FLT) share price lifts 3% as NSW targets November international travel appeared first on The Motley Fool Australia.

Should you invest $1,000 in Flight Centre right now?

Before you consider Flight Centre, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Flight Centre wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

ASX 200 midday update: Metcash update, Wesfarmers goes ex-div

These are the 10 most shorted ASX shares

ASX 200 Weekly Wrap: A mixed bag of earnings dominates ASX

These were the best performing ASX 200 shares last week

It has been a great week for the Webjet (ASX:WEB) share price

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Flight Centre Travel Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!