The Flight Centre (ASX:FLT) share price is still trading 40% below pre-COVID highs. So, what now?

We take a look at the travel agent's latest move…

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The Flight Centre Travel Group Ltd (ASX: FLT) share price has been in recovery mode this year following a challenging 2020. The company is aiming to bring back the travel agenda to people's lives after an 18-month hiatus.

At Monday's closing bell, Flight Centre shares ended the day up a robust 5.71% to $21.12. Last month, the company's shares reached a 52-week high of $25.28 but are still down around 40% from pre-COVID-19 levels.

a man stands with travel documents in hand with a roller wheel suitcase and extended handle next to him holding his forefinger to his lip as he ponders his next move in a deserted airport. as the Qantas share price falls

Image source: Getty Images

Flight Centre launches digital travel experience

To coincide with the restart of the travel industry, Flight Centre has introduced a digital travel experience, dubbed "Travel Runway".

From today, Travel Runway will be showcasing travel experiences in an online environment designed to inspire and educate travellers. The four-day event is aiming to guide customers to begin planning their next holidays. This includes categories such as beach, nature, food and wine, adventure, and luxury.

Coupled with accelerated vaccination rates and easing government restrictions, Flight Centre remains positive about the anticipated travel boom.

Flight Centre general manager of Australia Kelly Spencer commented on the resumption of travel:

…We're seeing huge week-on-week increases in enquiries for both local and overseas travel. Last week, we saw a 34% increase in flight enquiries and a 35% increase on fly and stay packages on the previous week. It's never been a better time to see what the world has on offer, and Travel Runway will provide endless inspiration and advice for anyone looking to book a holiday in 2022 and beyond.

In the company's annual general meeting (AGM), management highlighted that sales revenue increased month-on-month. In particular, both the leisure and corporate segments ticked up a notch during Q4 FY21. Corporate transaction numbers were at 50% before COVID-19, representing around 40% of total transaction value (TTV).

Flight Centre share price snapshot

Up until late August, Flight Centre shares were trading mostly sideways. During the company's full-year results release in August, its shares skyrocketed almost 60% in just 5 weeks. However, profit-takers decided to lock in gains, sending the company's shares lower.

Flight Centre has a current price-to-earnings (P/E) ratio of -3.06 and commands a market capitalisation of roughly $4.2 billion.

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. 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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