Key points
- The Flight Centre share price has gained 7% over the past month
- It's outperformed its ASX 200 travel share peers
- COVID-19 Omicron fears continue to impact the travel industry
The Flight Centre Travel Group Ltd (ASX: FLT) share price has been up and down over the past month but has taken off overall.
Shares in the travel company are currently trading at $17.66, up 7.29% in the past month.
Let's take a look at what's making this share price take flight during the month.
What's been happening at Flight Centre?
The Flight Centre share price gained 13% between market close on 20 December and 4 January. Since then, it's been bouncing up and down as COVID-19 Omicron fears continue to impact the travel industry.
The opening of interstate borders including Queensland and South Australia appeared to weigh positively on the company's shares in the lead-up to Christmas and the New Year. International arrival restrictions also eased in late December for arrivals into New South Wales and Victoria.
However, Omicron fears and rising case numbers appeared to impact Flight Centre and its travel share peers in mid-January. Between market close on 12 January and 14 January, the travel agency's shares fell 6.84% before bouncing back.
On January 17, Flight Centre CEO Graham 'Skroo' Turner said he believed the reopening of Queensland's borders signalled the "beginning of the end" of the pandemic. The company's shares jumped 3.87% on the news.
Flight Centre has narrowly outperformed its S&P/ASX 200 Index (ASX: XJO) travel share counterparts in the past month. Qantas Airways Limited (ASX: QAN) has gained 6.07%, while Webjet Limited (ASX: WEB) has gained 4.37%.
Meanwhile, Helloworld Travel Ltd (ASX: HLO) has risen 3.08%, and Corporate Travel Management Ltd (ASX: CTD) has climbed 0.14%.
Flight Centre share price snapshot
The Flight Centre share price has returned 14.5% in the past 12 months and is flat this year to date.
For perspective, the ASX 200 has returned about 8% in the past year.
The company has a market capitalisation of about $3.6 billion based on its current share price.
