Flight Centre achieves record profit in the UK thanks to Corporate Traveller and FCM

A strong year for FCM Travel and Corporate Traveller, the corporate brands of Flight Centre Travel Group, helped the group’s UK business deliver record profits.

As the global group announced its full-year 2024 financial results, Steve Norris, EMEA managing director of Flight Centre Travel Group, said its key corporate businesses had played a “critical role” in driving growth in the UK.

“Business travel continues to be considered a non-discretionary expense for companies and remains a critical aspect for companies looking to survive and thrive in the EMEA region,” he said.

“Our outstanding team has continued to win new business for FCM Travel, whilst also growing our UK customer base nationwide. It is important to note with these larger nationwide wins that some major customers are still ongoing with implementation and we will see the benefits of this in FY2025.”

Chris Galanty, Global Corporate CEO of Flight Centre Travel Group, said it had been a “robust year” for the group’s corporate pillar, with Corporate Traveller and FCM Travel achieving record total transaction value (TTV) in a sector that has only recovered to around 80% of pre-Covid transaction volumes.

Corporate TTV reached a record AU$12.1 billion as the company ended the year with approximately 35% growth over the full year 2019.

“This result is due to the high customer retention rate and a large pool of new customer wins, some of which are yet to be fully converted, so we will reap the benefits in the coming months as trading begins,” he said.

“FCM Travel’s transaction volume increased 10% year-on-year as the company continues to win and serve large multinational and enterprise clients, while Corporate Traveller achieved record wins globally and also won managed and unmanaged SME and start-up accounts.”

Flight Centre Travel Group generated adjusted PBT of AU$320 million for the 2024 financial year, an increase of 131% from AU$139 million in 2023.

The Group’s TTV reached a record AU$23.74 billion, slightly above the AU$23.7 billion achieved in FY 2019 and an increase of AU$1.8 billion year-on-year.

The global corporate banking business saw underlying PBT increase 44% to AU$211 million, with Corporate Traveller contributing a record profit.

fctg.com