Flight Centre to Fight Structural Forces, but at a Cost; Fair Value Estimate Cut to AUD 31 per Share
We have trimmed our fair value estimate for Flight Centre Travel by 6% to AUD 31.00 per share. While our fiscal 2017 earnings forecasts are largely unchanged, we have cut our fiscal 2018 and 2019 EPS estimates by 7% and 13%, respectively. These revisions reflect our view on the structural headwinds facing the group.In the leisure segment (where Flight Centre generates two thirds of its AUD 19.3 billion total transaction value, or TTV), volumes are likely to remain resilient in Australia and co...
Flight Centre Travel Group is engaged in the travel retailing in both the leisure and corporate travel sectors, plus wholesaling.
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