How have these 3 ASX 200 travel shares performed since reporting results?

The travel industry is still eagerly eyeing the reopening of state and international borders.

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S&P/ASX 200 Index (ASX: XJO) travel shares took some of the hardest hits when COVID-19 swept across the globe in early 2020.

While they also enjoyed some of the bigger bounce backs in the latter months of 2020, following the announcement of successful vaccines at the end of October, they are all still trading well below their pre-pandemic levels.

The Flight Centre Travel Group Ltd (ASX: FLT) share price, for example, remains down 49% since 21 February 2020, while the ASX 200 has managed to gain 2%.

The Webjet Ltd (ASX: WEB) is still down 40% since 21 February 2020.

The Qantas Airways Ltd (ASX: QAN) share price has fared the best, but it also remains down 17% over that same period.

With the price of all 3 ASX 200 travel shares yet to recover from the pandemic lockdowns, we take a look at how they’ve been performing since reporting their full year 2021 financial results (FY21).

Along with a brief recap of those results…

How has the ASX 200 airline performed since reporting results?

Qantas reported its FY21 results before market open on 26 August.

Some of the core numbers the airline reported included a statutory loss before tax of $2.35 billion.

Reporting a $12 billion hit from the pandemic-related travel closures, full year revenue came in at $5.9 billion.

Underlying earnings before interest, tax, depreciation and amortisation (EBITDA) were in line with management’s guidance, at $410 million.

Qantas did not pay a final or interim dividend in FY21.

Despite the hefty losses, the Qantas share price closed up 3.5% on Friday, perhaps driven by news on the day that the airline intended to resume international flights by the Christmas holidays.

Qantas shares are down 2% today, but remain up 11% since the company reported results. The ASX 200 has lost 4% over that same period.

How about Webjet?

Webjet reported its FY21 results back on 19 May.

The ASX 200 travel share saw its full year revenues shrink to $38.5 million, down from $266.1 million in FY20.

The company slashed costs during the year but still reported an underlying operating earnings loss of $56.3 million.

Webjet’s balance sheet remained solid, with $431 million pro forma cash on hand.

Management did not declare a final dividend.

Investors’ response to the results was fairly mild, indicating much of the bad news had already been priced in. On the day of reporting, the Webjet share price gained 0.6%. Since market open on 19 May, shares are up 25%.

The ASX 200 has gained 3% over that same time.

How has Flight Centre performed since reporting?

Rounding off our ASX 200 travel shares, Flight Centre posted its FY21 results before market open on 26 August.

Among the key metrics, Flight Centre reported total revenue of $396 million, down 79% year-on-year.

The company was deep in the red, with an underlying loss before tax at $507 million, similar to losses suffered in FY20.

Despite this, Flight Centre’s balance sheet looked solid, with a cash balance as at 30 June of $1.36 billion.

As with the other 2 ASX 200 travel shares above, Flight Centre did not pay an interim or final dividend for the financial year.

Perhaps spurred on by management statement that the company can be profitable in FY22, the Flight Centre share price finished the day up 4.0%.

Since market open on 26 August, Flight Centre shares are up 10%. The ASX 200 is down 4% in that same time.

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The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Webjet Ltd. The Motley Fool Australia has recommended Flight Centre Travel Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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