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Flight Centre warns of massive profit loss – NEWS.com.au
Flight Centre warns of massive profit loss as COVID-19 restrictions ground travel ability
Troubled travel group Flight Centre has warned investors of a multi-million-dollar loss ahead of its financial results, flagging the coronavirus pandemic is still inflicting pain upon the tourism-dependent business. The Queensland-based company is anticipating a statutory loss between $825 million and $875 million from direct impacts of COVID-19 grounding the travel and tourism industry.
Flight Centre’s expected shortfalls are off the back of the economic downturn sparked by the virus, reducing…
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