Flight Centre Completes $200m Buy-Back and Tightens Focus on Core Travel Growth

Flight Centre Travel Group Limited ( (AU:FLT) ) has provided an announcement.

Flight Centre Travel Group has completed a $200 million on-market share buy-back, retiring more than 16 million shares, or about 7% of its pre-buy-back issued capital. The company will also retire its remaining $100 million of 2028 convertible notes next month, which were originally issued during the COVID-19 pandemic to bolster liquidity amid severe travel disruption.

Alongside these capital management moves, Flight Centre is reshaping its portfolio by acquiring UK businesses Fresh and Iglu, which focus on the fast-growing meetings and events and cruise sectors. It has also proposed the sale of its 47% stake in the Pedal Group cycle joint venture for $61.7 million, subject to shareholder approval, underscoring a strategy to recycle capital into core travel growth priorities and maximise shareholder value.

The most recent analyst rating on (AU:FLT) stock is a Buy with a A$16.00 price target. To see the full list of analyst forecasts on Flight Centre Travel Group Limited stock, see the AU:FLT Stock Forecast page.

More about Flight Centre Travel Group Limited

Flight Centre Travel Group Limited is an Australia-based travel company operating in the global leisure and corporate travel industry. It provides travel booking and management services and is increasingly active in high-growth segments such as meetings and events and cruise through targeted UK acquisitions.

Average Trading Volume: 1,610,939

Technical Sentiment Signal: Sell

Current Market Cap: A$2.35B

For an in-depth examination of FLT stock, go to TipRanks’ Overview page.