Flight Centre: Company to shut 100 underperforming stores

but virus’s spread & increased travel restrictions mean demand is softening significantly andIt confirmed a “strategic response plan” was in place which aimed to “protect and grow market-share ahead of future rebound, while reducing costs” and that there were “up to 100 underperforming leisure shops to close in Australia”.

Both Webjet and Flight Centre fell nearly 20 per cent on Thursday, while Virgin Australia was down 16.7 per cent. He said the company would draw on its experiences with SARS in 2003 and during the Global Financial Crisis in 2009 by seeking to stimulate demand, while also implementing sensible cost reduction strategies to maintain its balance sheet strength.

“Within this uncertain environment, our priorities are to reduce costs, while also ensuring that we and our people are ready to capitalise when the steep discounting that is underway across most travel categories starts to gain traction and as the trading cycle rebounds.

Was in the pipe line for months over serviced for years gets the opportunity publicly to do it and blame the Virus. Not honest !!!!!!!

Yes, the key word blaming. They should be more creative and have workshops, seminars, local tours ie:walking, fishing, kayaking, historical supporting the Bush fire towns.. small business' must get creative we've been challenged

Actually FC advised these stores were underperforming and staff will be relocated....lots of companies will use this time to offload staff

Are they assuming coronavirus will last forever and demand for travel will never recover?Isn’t this exactly what the govt money is meant to be used for? To support businesses during this tough time Literally 24 hours late, a major business is announcing closures and job cuts

I'm very sorry for them. I just don't know how they have managed to stay in business anyway in this day and age. Surely they are like the horse and cart? Street gas lamp lighters? Chimney sweeps?

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Flight Centre closes 100 stores across Australia due to business impact from coronavirus fearsIn a statement to the Australian Securities Exchange, travel company Flight Centre is closing 100 stores across Australia in response to the coronavirus. Absolute mess. Serves the dogs right. 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.
Source: abcnews - 🏆 5. / 83 Read more »

Flight Centre closes 100 stores across Australia due to business impact from coronavirus fearsIn a statement to the Australian Securities Exchange, travel company Flight Centre is closing 100 stores across Australia in response to the coronavirus. Absolute mess. Serves the dogs right. 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.
Source: abcnews - 🏆 5. / 83 Read more »