Business
Huge loss for Flight Centre, but silver lining emerging – The Australian Financial Review
The Brisbane-based outfit said that cash burn was better than expected and corporate travel work was profitable on an underlying basis.
“This has severely impacted us and our people and some very tough decisions have been made over the past four or five months.
Despite ongoing restrictions, revenue has now started to increase, particularly in Europe, and we have surpassed our initial cash flow target, thereby extending our liquidity runway.
The pandemic has smashed the travel industry; locally, Virgin Australia tumbled into administration while travel-related companies have raised large amounts of cash with Flight Centre raisi…
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