Flight Centre shares opened this morning at $20.17 and are currently trading for $21.23.
So, what’s driving ASX investor interest?
Why is the Flight Centre share price outperforming today?
The impetus looks to be partly driven by strong results and bullish statements from US airline giant Delta Air Lines Inc (NYSE: DAL), which closed up 6.2% yesterday (overnight Aussie time).
In yesterday’s earning’s report Delta stated:
Domestic consumer revenues are exceeding 2019 levels and the recovery in business travel, revenue has accelerated as offices reopen and business travellers rebuild face-to-face relationships. Demand for long-haul international is growing, as travel restrictions lift…
This comes despite fast rising jet fuel costs, which are being offset by higher ticket prices.
According to Delta’s CEO Ed Bastian (quoted by The New York Post), “We are seeing a historic level of sales activity and booking volumes at levels higher than we’ve ever seen in our history.”
With those kinds of figures coming out of the US, the Flight Centre share price looks to be catching some helpful tailwinds today.
Factoring in today’s intraday gains, Flight Centre shares are up 12.9% since this time last month.