Australia's Flight Centre Travel tumbles after trimming annual outlook

Flight Centre Travel

31/07/2025 05:48

Updates

** Shares of Flight Centre Travel FLT.AX fall as much as 9.5% to A$11.660, hitting their lowest since April 7

** Stock eyes weakest trade since late February, if trends hold

** Travel retailer downgrades FY25 underlying profit before tax forecast to A$285 million-A$295 million ($183.91 million-$190.36 million) vs earlier guidance A$300 million-A$335 million

** Attributes outlook change to underperformance and additional non-recurring costs in Asia, impact of escalating tensions in the Middle East and global downturn in bookings to the United States

** Jefferies says downgrade is not surprising

** Brokerage cuts price target to A$13 from A$14, rates stocks as "hold"

** Stock down 29.3% YTD, including the day's moves

($1 = 1.5497 Australian dollars)

 (Reporting by Nikita Maria Jino & Rajasik Mukherjee in Bengaluru)

 ((Nikita.Jino@thomsonreuters.com;))