Flight Centre Travel Group (FCTG) today announced strategic plans to grow market share in the cruise sector by bringing back its cruise brand, Cruiseabout, and reestablishing a dedicated wholesale cruise division.
Flight Centre Travel Group (FCTG) has acquired Australia's best-known luxury travel event, Luxperience. The acquisition will strengthen FCTG's luxury leisure offering to suppliers, advisors, and clients. Luxperience will continue to operate on its own merits as a separate business entity.
Flight Centre Travel Group (FLT) has agreed to acquire luxury travel business Scott Dunn for £121 million (A$211 million). The acquisition is expected to be mid-teens percentage EPS accretive for FLT and will generate modest net corporate cost and supplier synergies. Scott Dunn's existing management team will be retained.
Melanie Waters-Ryan, the Supply CEO of Flight Centre Travel Group, will retire at the end of FY23 after 35 years with the company. She has been a role model and inspiration to her colleagues and will be sorely missed. She will leave a fantastic legacy globally in the supply area and elsewhere in the business.
Flight Centre Travel Group (FLT) will invest more than $30 million in a targeted staff retention initiative. The Global Retention Rights (GRR) program will be extended for a further 12 months and will see most of FLT's people globally offered a one-off grant of share rights valued in the order of $3750. The program is designed to encourage people to continue their careers with FLT during the post-COVID recovery phase and to strengthen the alignment between the interests of FLT's people and its shareholders.
Flight Centre Travel Group (FLT), Goldman Travel Corporation and the Spencer Group of Companies have launched an innovative new joint venture (JV) focused on premium and business travel. The JV, called Link Travel Group, will provide an innovative and compelling offering via travel supply, technology and business operations. Link will work closely with carefully selected independent travel businesses who are highly regarded in the premium leisure and corporate travel sector in Australia.
Flight Centre Travel Group (FCTG) has committed to Australia's reconciliation journey by launching its inaugural Reconciliation Action Plan (RAP). The RAP outlines a number of specific initiatives that FCTG will undertake over the next two years to improve its relationships with Aboriginal and Torres Strait Islander peoples and communities. These initiatives include providing cultural intelligence training to its employees, continuing a First Nations' Children's Art Competition, and seeking beneficial partnerships and supplier relationships.
Tom Walley, a long-serving senior leader at Flight Centre Travel Group (FLT), has been appointed as the Global Managing Director of SME specialist division Corporate Traveller. He has ambitious targets for the business, including welcoming $1 billion of new customers in the 2023 financial year. He believes that Corporate Traveller can achieve this goal by focusing on its people, the great service they provide, and its investment in technology.
Flight Centre Travel Group (FLT) has appointed Michelle Degenhardt as its Global Sustainability Officer. Degenhardt will work with FLT's people, customers, suppliers, and other stakeholders to ensure the company's business practices are economically, environmentally, and socially sustainable. She will also oversee the execution of strategies to deliver on FLT's environmental, social, and governance (ESG) objectives. Degenhardt has worked for FLT for 17 years and was formerly the company's culture and employee engagement leader. She has also been involved in a number of sustainability-related issues and areas, including the development of the company's Responsible Travel charter and the creation of a head office recycling and waste reduction program.