Flight Centre Travel Group (ASX:FLT) has demonstrated a strong post-pandemic recovery.
The company reported a record $421 million operating cash inflow during FY24, exceeding traditional performance while operating with less than 90% of its historical cost base.
Flight Centre has channelled over $500 million into capital management initiatives since the start of FY24, solidifying its balance sheet for sustainable shareholder value creation.
"Re-emerging from the pandemic in a stronger position, we are now a more efficient and productive business with building blocks in place to deliver stronger returns," said Graham Turner, Flight Centre's CEO.
In FY24, the corporate division has become Flight Centre's major total transaction value contributor, generating over 50% of TTV compared to less than 40% in FY19.
The company also highlighted its expanded role in the global corporate travel sector, now estimated as the world's third-largest corporate travel manager.
Flight Centre reported marginal growth in the first quarter of FY25 compared to the same period last year. However, the company noted inconsistencies in monthly performance as it approaches the busier holiday season.
The group expects Australian outbound travel to grow by 4% to 5% in FY25, with international ticket volumes showing solid growth in the first quarter. However, this was offset by continued airfare price deflation.
Flight Centre aims to achieve a 2% underlying profit before tax margin for the fiscal year.