Australia's Webjet jumps on rebound in travel bookings, strong outlook

Web Travel

31/08/2022 02:05

** Travel company Webjet Ltd  WEB.AX  rises as much as 8.6%
to A$5.50 in its biggest intraday pct jump since Feb. 22
    ** Co says 1H23 bookings tracking at 95% of pre-pandemic
levels (https://bit.ly/3TrwAL3)
    ** Adds all three businesses profitable in YTD trading
    ** "Have full confidence that EBITDA margins will expand
beyond pre-pandemic levels as business continues to scale" - WEB
    ** Expects to exceed pre-pandemic earnings in FY24
    ** WEB stock hits its highest since July 8; set to add 6.4%
for the month after three consecutive monthly losses
    ** 1.82 mln shares change hands, vs the 30-day average of
1.76 mln shares
    ** WEB stock second-biggest pct gainer in the ASX 200
benchmark index  .AXJO 
    ** Down 1.2% this year, as of last close, vs a 6% decline in
the ASX 200 benchmark

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com; Twitter: https://twitter.com/sameer_manekar))