Rex has signed agreements with a number of travel agency groups, most noticeably Flight Centre.
The post These 2 ASX travel shares are tying the knot for the next 10 years appeared first on The Motley Fool Australia. –
ASX travel shares are back in the spotlight now that COVID-19 has stepped back into the shadows.
Additionally, Rex revealed it has also signed agreements with ASX travel shares Helloworld Travel Ltd (ASX: HLO), Webjet Limited (ASX: WEB), and Corporate Travel Management Ltd (ASX: CTD), plus Consolidated Travel.
ASX travel shares team up
Revealing its “multiple agreements with major travel agency groups”, Rex picked out one deal for special mention.
“In particular, Rex has signed a landmark 10-year agreement with Flight Centre which ensures that Rex will be Flight Centreâs partner of choice over the next decade,” it said.
Rex said all the agreements will be in effect at the start of the new financial year beginning July 2023.
The ASX travel share expects the deals to result in a “more than doubling of Rexâs annual domestic jet revenues in FY2023 compared to its current annualised domestic jet revenues with no increase in fleet size”.
It also expects its regional revenue to be improved.
Speaking on the announcement, Rexâs general manager of sales Ann Elliott said the new partnerships were “critical to success”.
âThese new partnerships are a testament to our growing reputation as a safe, reliable and affordable full-service airline which is enjoying ever-increasing passenger support,” she added.
Share price snapshot
At the time of writing, the Rex share price is up 0.99% at $1.02. It is down almost 28% this year to date and 18% over the past year.
The Flight Centre share price is currently down 1.15% today at $17.24. It has fallen 7% since the start of the year but is up 15% over the past 12 months.
The post These 2 ASX travel shares are tying the knot for the next 10 years appeared first on The Motley Fool Australia.
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Motley Fool contributor Zach Bristow has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Helloworld Limited. The Motley Fool Australia has positions in and has recommended Helloworld Limited. The Motley Fool Australia has recommended Corporate Travel Management Limited, Flight Centre Travel Group Limited, and Webjet Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.