The KFC Big Bash League (BBL) has seen world-class overseas players travel nearly 350,000 kilometres, spending more than 430 hours in the air, to arrive in Australia to compete in one of the country’s leading sporting leagues.
Flight Centre Travel Group AGM 2023 – Australia corporate statement
Flight Centre Travel Group’s (ASX:FLT) Annual General Meeting has taken place and the following business update was issued to the Australian Securities Exchange.
- $6billion in first quarter (1Q) Total Transaction Value (TTV) – our second strongest start to a year and with corporate TTV again at record levels
- 1Q TTV increased about 20 per cent – or more than AUD$900million compared to the same period last year – to AUD$6billion, just below the record circa AUD$6.2billion result we delivered four years ago
- 1Q corporate TTV exceeded AUD$3.1billion, another record, as we continued to outpace the broader sector’s recovery, with activity across the industry globally reaching 72 per cent of pre-COVID levels during the period (Based on MIDT data for 1Q FY23 as a % of 1Q FY19)
- The organic growth that has fuelled our rapid recovery to date has continued with FCM securing new, contracted accounts with projected annual spends in the order of AUD$565million already this year.
Comments by Chris Galanty, Global Corporate CEO, Flight Centre Travel Group:
“The corporate division of the Flight Centre Travel Group (ASX:FLT), that includes flagship businesses FCM and Corporate Traveller, has achieved record-breaking Total Transaction Value (TTV) for the first quarter of FY24 with year-to-date wins totalling circa AUD$900 million.
“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 per cent 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.
“We’ve also enjoyed successful growth in both our digital platforms – Melon in the U.S. and UK – and FCM Platform, with our investments in both really starting to pay off.
“All new FCM customers are now successfully implemented on the new Platform and all our existing customers will also be transferred by the end of the financial year. Corporate Traveller’s Melon is also going from strength to strength, with more than 90 per cent of new customers in the U.S. integrated.
“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.”
For the full ASX announcement, please CLICK HERE.
Comments by Adam Moon, General Manager, Stage and Screen:
"Stage and Screen is proud to announce significant achievements in customer retention and satisfaction, key indicators of our steadfast commitment to service excellence. As we reflect on the past 4 months, it's evident that our focus on nurturing existing customer relationships has paid off, resulting in the successful retention of our entire customer base. This milestone underscores our dedication to not just meeting, but exceeding, customer expectations."
"Feedback from our valued customers consistently highlights the exceptional service delivery that Stage and Screen is renowned for. Our team's willingness to go to unprecedented lengths to meet client needs has not only fortified our reputation but has also established us as invaluable partners in their travel program."
"In line with our commitment to continuous improvement, we have maintained a strong emphasis on enhancing the productivity of our business. This focus has yielded excellent results, particularly through the integration of our innovative online booking tool. This tool has been instrumental in streamlining processes and allocating resources more efficiently, thereby elevating the overall customer experience."
"As we move forward, Stage and Screen remains steadfast in our commitment to achieving a strong return to post-pandemic normality. Our consistent performance, aligning with both our targets and budget forecasts, positions us well for sustained growth and success in the evolving market landscape."
