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11 May 2021
Travel agents have been warned not to expect much from this year’s Federal Budget, but that hasn’t stopped the sector’s peak body from continuing to push for continued support.
The Australian Federation of Travel Agents (AFTA) has eight of its directors in Canberra for this week’s Federal Budget sittings, with Treasurer Josh Frydenburg to share the government’s big spending plans tonight.
Chair Tom Manwaring, vice chairs Graham “Skroo” Turner and Christian Hunter, David Smith, Laura Ruffles, David Greenland, David Padman and Jo Sully are all volunteering their time to spend several days in the nation’s capital lobbying and briefing stakeholders across the political spectrum and participating in all key events.
Travel stocks running on fumes
Apr 26, 2021 – 4.37pm
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Investors appear to be optimistic that travel businesses are good bets despite them running on a mix of capital raisings, debt, government lending, half-price airfares, JobKeeper and savage cost-saving redundancies over the past 12 months.
While the stock prices rebounded from last year’s lows, insiders took the opportunity to reduce their holdings. Corporate Travel’s chief executive and founder, Jamie Pherous, sold 1.5 million shares for $21 each on March 16, demonstrating a remarkable talent for timing the market. Pherous sold just one day after the shares closed at their post-pandemic high and only closing 1¢ off the high on the day he cashed out.