Huntley Mitchell 17 Feb 2021
Webjet’s online travel agency division has enjoyed a profitable first half of the 2021 financial year, driven by the reopening of domestic borders.
After suffering a $6.2 million loss in the second half of FY20, Webjet OTA posted $1.1 million in earnings before interest, taxes, depreciation and amortisation (EBITDA) in the six months to 31 December.
Webjet managing director John Guscic said the company’s OTA business saw significant organic bookings traffic as soon as domestic borders opened.
“We continue to take market share, growing at twice the market since May,” he added.
However, the profitable result – which was also partly due to a 78 per cent reduction in costs tied to total transaction value (TTV), such as marketing spend – paled in comparison the $28.8 million in earnings Webjet OTA in the first half of FY20.
Business Insider: Greg Foran s year ahead: Dealing with an image problem
5 Feb, 2021 08:00 PM
6 minutes to read
Under CEO Greg Foran, Air NZ was slow to pick up on the PR damage being done by the credits and refunds crisis. Photo / Peter Meecham
NZ Herald
THE INSIDER
Stay up-to-date with The Insider, a weekly column featuring what s happening behind the scenes in business.
Foran s image problem A year into the job as chief executive of Air New Zealand, Greg Foran will be left in no doubt about what the role is all about.
First, airlines are fiendishly complicated businesses to run - exponentially so during a pandemic. Second, being boss of the national carrier comes with an expectation that he s going to face scrutiny from its majority owners: The hard-working taxpayers of New Zealand. Through the Government, the public owns 52 per cent of the airline and more if the latest state loan is converted to equity.