Citi prefers Flight Centre Travel over Corporate Travel Management on improving macro

Flight Centre Travel

10/03/2024 22:20

** Analysts at Citi say near-term preference is for Flight
Centre Travel  FLT.AX  over Corporate Travel Management  CTD.AX 
amongst Australian travel management firms
    ** "Unpacking the performance in AUNZ region it appears (CTD
has) lost some share, while peers are growing at faster rates
and better mix in the U.S." - Citi
    ** "We see CTD as a quality company that should bounce back;
however, in the near term our preference is for FLT given the
operating momentum and improving macro" - Citi 
    ** Brokerage says macro trends like lower ticket prices and
high volumes should have been a positive tailwind for both
companies; however, the results couldn’t have been more
different - Citi
    ** CTD stock down 12.6% YTD, while FLT has gained 6% so far
in 2024, as of last close
 

 (Reporting by Ayushman Ojha in Bengaluru; Editing by Lisa
Shumaker)
 ((Ayushman.ojha@thomsonreuters.com;))