Webjet back to 95% of pre-COVID bookings

Webjet revealed that bookings are finally tracking close to parity with pre-pandemic volumes, with the company's latest financial report showing a positive trajectory for future growth and earnings.

MANAGING Director John Guscic announced during the presentation that all three of its businesses were back to profitability for the FY23 trading year to date, with solid performance expected to generate a cash surplus of around $100 million by the end of the first half of the next 12-month period.

This success will likely be driven by the strength of its WebBeds division, which has already enjoyed a rapid uptake in recent months.

“WebBeds has had an exceptional northern hemisphere summer trading period, with bookings ahead of pre-pandemic levels since May,” Guscic said.

“July was the record TTV month in the history of WebBeds and August already surpassed July,” he added.

Guscic also noted that “by targeting growth wherever we saw opportunities”, Webjet has seen its market share grow and EBITDA margins on track to be higher than 50% for the first half of the FY23.

The company’s recently acquired Trip Ninja product is also on track to be launched next month for multi-stop journeys.

The positive financial report saw Webjet’s share price jump by 8.6% to $5.55 a share.

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