Flight Centre (FLT)

Shares / Stock Code

FLT

Stock Exchange / Sharemarket

ax

Flight Centre (FLT) is one of the largest independent retail travel group in Australia principally focused on the sale of travel and travel-related services and products. FLT listed on the Australian Stock Exchange on 1st December, 1995. During the fiscal 2008, the Company’s primary focus was on the sale of travel at both domestic level and worldwide. The Company’s flights, hotels, holidays, car hire, insurance, cruises, rail passes, travel insurance, coach tours, visas, traveler's checks and frequent flyer points redemption are managed by its consultants. Its call center is engaged in the provision of 24-hour service to facilitate its clients. On January 21, 2008, FLT acquired a 50% interest in a recruitment business based in Brisbane, the Employment Office Australia Pty Ltd. On January 31, 2008, Flight Centre (USA) Inc., which is a subsidiary of Flight Centre Limited, completed the acquisition of the equity of Liberty Travel Inc., a United States based travel agency group. On August 1, 2008, the Company entered into a joint venture agreement for an adventure travel with Melbourne-based operator, Intrepid.

FLT mainly operates in Australia with about 900 stores in operation. The Company is also making a strong presence in international markets. It has 179 outlets in New Zealand, 181 outlets in UK, 152 outlets in Canada, 133 outlets in South Africa, 31 outlets in US, 15 outlets in Hong Kong, 14 outlets in China and 13 outlets in India.

Flight Centre History

FLT origins can be traced back to Top Deck Travel, a UK bases company established in 1973, with Graham Turner and Bill James being the founders of the Company. In 1980, the Company opened a London-style discount travel centre in Sydney, Australia and commenced operations. FLT listed on the Australian Stock Exchange in December 1995. Since its listing the Company has experienced a strong growth in terms of both organic growth and acquisition activity.