Investors will have to wait a little longer to see where Webjet Group Ltd (ASX: WJL) shares trade next.
The ASX travel stock was placed in a trading halt on Tuesday, with its shares last sitting at 49 cents.
It has been a rough year for shareholders, with the stock down around 44% in 2026 and 44% over the past year.
The halt comes as investors wait for a potentially major update that could materially affect its financial outlook.
Here's what we know so far.
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Webjet calls a trading halt
In a statement to the ASX, Webjet said it had requested an immediate trading halt pending an announcement.
The company said the update relates to "future material changes to a certain commercial arrangement".
Webjet also said the change is currently expected to have a material impact on its financial outlook.
No other details were provided in the trading halt request.
The halt is expected to remain in place until the earlier of the announcement being released or normal trading beginning on Wednesday, 21 May 2026.
The timing is also notable because Webjet is due to hold its FY26 results briefing tomorrow morning.
The company said CEO and Managing Director Katrina Barry, along with CFO Layton Shannos, will discuss its half-year results, strategy, and outlook.
More change at the top
The halt comes at a sensitive time for the business.
Barry is leaving the business this week after less than 2 years in the top job.
Her departure follows the recent exit of deputy CEO David Galt.
Chairman Don Clarke is also due to retire on Wednesday.
That leaves Webjet dealing with several leadership changes while shareholders wait for more details on the commercial update.
The company previously said Barry would remain through the completion of the company's full-year results in May.
Webjet has also reaffirmed its FY26 earnings before interest and tax (EBIT) guidance of $28 million to $29 million.
That guidance excludes Webjet Bizness Travel, which is delivering in line with plan.
It also excludes Hive, which is expected to reduce second-half earnings by $600,000 to $900,000.
Why bidders may still be watching
The leadership changes are also feeding renewed takeover speculation.
The Australian reported that RBC Capital Markets analyst Wei-Weng Chen believes the departures of Barry and Galt could create a leadership vacuum.
He said this could potentially play into the hands of suitors Helloworld Travel Ltd (ASX: HLO) and BGH Capital.
Both groups had previously shown interest in Webjet.
BGH Capital had offered 91 cents per share, while Helloworld had offered 90 cents per share.
Those takeover talks were terminated earlier this year, with uncertainty around an acceptable binding proposal blamed for the end of discussions.
Since then, Webjet shares have fallen more than 15%.
