In a statement to the Australian Securities Exchange, the travel company said the"virus's spread and increased travel restrictions mean demand is softening significantly and [the] timeframe for recovery is unclear".The statement, approved by CEO Graham Turner, said the company would look to transfer staff to other shops.
"We are now seeing significant softening and expect this to continue into April at least," Mr Turner said.introducing flexible work arrangements to allow staff to switch from full time to part timestaff encouraged to take leave during a slowdown tipped for March and AprilThe company said executives would also go without performance bonuses.
Mr Turner said the company would draw on its experience in getting through the SARS outbreak and the global financial crisis . "As we saw with both SARS and the GFC in Australia, the rebound can be relatively fast and strong after a fairly significant downturn in international travel," he said.
Inevitable, BANKRUPT
Interesting Travel companies normally transact 2/3 of the revenue in the current period to June 1, this will be catastrophic, expect many agents to close
Complete BS, I used to work at Flight Centre HQ and I can tell you that the majority of their stores were barely making money anyways. This is a complete cover up for the fact that they were already struggling very badly. Disappointing with your journalism.
Most people book online!
Sure, it's the coronavirus. Not the bad press from grossly underpaying their workers, or their ever-decreasing relevance in a world where people can get cheaper fares for themselves, or the evaporation of the middle class's disposable income to spend on travel.
So much for the CrimeMinister asking for corporate Australia to play its part.
Wow......this bug combined with up to the second social media is one powerful tool. Shows how paranoid we really are. Wonder what's next?
If there`s a positive coming out of all this. it`s that many cut-price/discount airlines may go out of business. Most, if not all, exist on the flimsiest of margins whilst items such as quality service and, licensed maintenance is non-existent.
Serves the dogs right.
Absolute mess.