Key Points
- Flight Centre shares backtrack despite COVID-19 cases beginning to dwindle
- CEO calls for clearer visibility for the return of tourists to Australia
- FY22 half-year results expected to be released on 24 February
The Flight Centre Travel Group Ltd (ASX: FLT) share price has staged a mini rebound in the past week. This comes as the number of COVID-19 cases around the country begins to finally subside.
At the time of writing, the travel agent's shares are down by 1.45% to $17.30. Although treading lower today, it's worth noting that its shares have advanced by more than 11% in the past week.
What did the Flight CEO say?
Following the latest news that the Australian Technical Advisory Group on Immunisation (ATAGI) is looking into re-defining the term "fully vaccinated", Flight Centre boss, Graham Turner weighed in on the agenda.
Speaking on Channels Nine's Today, Mr Turner said that clearer visibility is needed for the tourism sector.
This comes as Federal Health Minister Greg Hunt advised that being fully vaccinated will most likely require three COVID-19 shots.
"I think having the booster shots is important but I don't think we can keep changing these definitions all the time, particularly for people who are travelling, particularly international travellers" commented Mr Turner.
" I think we've just got to get back to living with the virus and accepting that fully vaccinated with double shots initially and in the long-term perhaps change that.
"I think it's a real blow if they do this to the tourism industry and the travel industry, of course".
While Australia is slowly starting to re-open up to the rest of the world, tourists are still barred from entering the country. This also applies to foreign business people who don't have an exemption or visa.
It's evident that without the resumption of travel, Flight Centre will be battling to achieve strong financial numbers for FY22.
All eyes will be on Flight Centre's FY22 half-year results which are expected to be released on 24 February 2022.
Flight Centre share price recap
Up until late August, Flight Centre shares were trading mostly sideways. However, during the company's full-year results release, its shares skyrocketed almost 60% in just 5 weeks.
Since after hitting a 52-week high of $25.28 in early October, the Flight Centre share price has continued to travel lower.
Based on today's price, Flight Centre commands a market capitalisation of roughly $3.45 billion.
