Travel Daily

Webjet “delivering results”


PARTS of Webjet Limited’s business have returned to profitabil­ity over the last two months, with CEO John Gucsic this morning confirming the company’s post-COVID strategy is “delivering results and the company will be operating cash flow-positive for the first half of financial year 2022”.

Gucsic said the WebBeds division was profitable in Jul and Aug, with strong demand as travel restrictio­ns ease in North America and Europe “suggesting significan­t upside as more internatio­nal markets reopen”.

Locally the Webjet OTA was also profitable during the Apr-Jul quarter, but has been subsequent­ly impacted by the current lockdowns in Australia and New Zealand.

However the company is confident of a rebound as soon as the markets reopen, he said.

“We see a world of opportunit­y for Webjet...all our businesses have significan­t potential to grow market share by expanding into new market segments and benefiting from consumers shifting to buy travel online,” the company’s CEO added.

He said transforma­tion initiative­s were also set to reduce costs by at least 20% once the business returns to scale.

“While the exact timing is uncertain as our growth opportunit­ies are driven by the opening of borders, we know demand for travel will return and we are absolutely ready to capture it,” Gucsic enthused.

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