Flight Centre is starting off its 2024 fiscal year with a strong result. In the first quarter period of July to September, the company posted AUD$6 billion – CAD$5.4 billion – in Total Transaction Value, up nearly 20% from last year. FCTG says the results represent its second strongest start to a fiscal year ever.
“We've experienced unprecedented success in the first quarter (Jul-Sep 2023), of FY24 at the Flight Centre Travel Group, with an incredible increase in profits compared to the same period last year,” said Chris Lynes, Managing Director of Canada.
“This growth is undeniable proof of our resilience, vision, and dominant position within the Canadian corporate travel sector, particularly among start-ups and mid-sized enterprises (SMEs). No surprise here; Canada's vibrant and dynamic business ecosystem consistently ranks among the world's best markets for SMEs, a fact that has contributed to our soaring profits,” added Lynes.
“And with new data from Morgan Stanley confirming the continued growth of the corporate travel sector, we have every reason to be confident in our future in Canada. Toronto, Vancouver, and Calgary remain the top destinations for domestic corporate travellers, while international travel has seen an uptick in popularity for U.S. destinations like Las Vegas, Chicago, and New York City. Indeed, our nation’s business borders are growing ever wider.”
Flight Centre (Photo Credit: Photo: Flight Centre)
Chris Galanty, Global Corporate CEO, Flight Centre Travel Group, stated:
“FCM, in particular, has been able to secure some strong wins in both North America, United Kingdom and Asia – one of the many reasons we saw a particularly strong end to the month of October. We see the corporate travel market has recovered to circa 70% as an average across all markets.
Despite the challenging macro environment globally, FCM and Corporate Traveller continues to win new customers and grow market share – while keeping their resilient customer bases. The small-to-medium sized enterprise market in the U.S. and Canada in particular, is strong.”
Galanty attributes the company’s success to a combination of digital technology and a people-first approach.
“There’s no question our new digital platforms have, and will continue to be, key differentiators when it comes to winning new customers. With our strong people-first approach, combined with successful technological investments to date, this really sets us apart.”
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