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Recovery gaining momentum: Flight Centre (ASX:FLT) boss

Flight Centre’s boss has seen the light at the end of the lockdowns.
The post Recovery gaining momentum: Flight Centre (ASX:FLT) boss appeared first on The Motley Fool Australia. –

The Flight Centre Travel Group Ltd (ASX: FLT) share price has been gaining momentum this week, as has its business according to the company’s investor presentation.

Flight Centre’s co-founder and managing director Graham Turner presented Bell Potter with a positive picture of the world’s return to travel and towards the travel agency’s services this week.

He also noted the complexities that will be involved with travelling internationally post-COVID-19. However, he said such complexities will “play to [Flight Centre’s] strengths”.

Right now, the Flight Centre share price is $18.34, 0.7% higher than its previous close.

Let’s take a closer look at the travel agency’s outlook for financial year 2022 (FY22).

“Light at the end of the lockdown tunnel”

The Flight Centre share price is in the ASX green so far this week, during which it released its investor presentation.

Turner gave the investor presentation to Bell Potter on Tuesday. He told the financial advisory firm the company’s looking forward to recovering from the COVID-19 pandemic and international travel’s resumption.

International flights from Australia are expected to take off in November and land in Fiji. Flight Centre expects that even more international travel to and from Australia will begin ramping up late in the first half of FY22.

That’s in line with Qantas Airways Limited‘s (ASX: QAN) plan to restart international flights in December.

The ASX 200 company also noted that the complexity that will come from navigating governmental policies, vaccine requirements, and additional paperwork will likely reinforce the value of Flight Centre’s travel agents.

Further, according to Flight Centre, if South Australia’s trial of at-home quarantine is rolled out across the country, it will remove one of the major impediments Australians face when travelling: Hotel quarantine.

However, the company is predicting sporadic lockdowns will continue to affect domestic travel over the current financial year.

Australia is on track to have 80% of those aged 16 and over fully vaccinated against COVID-19 by mid-late November.

On top of Australia’s growing vaccination rate, more than 60% of people in Flight Centre’s key markets are fully vaccinated.

Staying overseas, various travel bubbles between the US, UK, Canada, Europe, Singapore, and Brunei are opening this month. The company also experienced a rapid recovery in travel within the US towards the end of FY21.

All-in-all, Flight Centre believes it has found the “light at the end of the lockdown tunnel”. Like many Australians, the company’s looking forward to getting back to normal.

Flight Centre share price snapshot

The Flight Centre share price has been performing well on the ASX this year.

It is currently 14% higher than it was at the start of 2021. It has also gained 38% since this time last year.

The post Recovery gaining momentum: Flight Centre (ASX:FLT) boss appeared first on The Motley Fool Australia.

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More reading

Why the Flight Centre (ASX:FLT) share price is up 20% in a month
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It’s been a great week so far for the Flight Centre (ASX:FLT) share price
How have ASX travel shares performed during the August 2021 earnings season?

Why A2 Milk, Flight Centre, Medibank, & St Barbara shares are dropping

Motley Fool contributor Brooke Cooper 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.

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