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Australia's Flight Centre to cut more jobs as profits slump

SYDNEY, Apr 13, 2009 (Asia In Focus via COMTEX) --

Company: Flight Centre Ltd. (FGETF)

FLIGHT CENTRE (ASX:FLT) managing director Graham Turner says that more staff will go at the travel agency, despite predicting that the worst of the economic slowdown has passed. Australia's largest travel agency has forecast annual profit to fall by more than two-thirds because of a slump in air travel.

* Flight Centre said last week it expected to report a net profit of between $A36 million ($US25.5 million) and $44 million for the year to June 30, 2009.

* Flight Centre has so far cut approximately 100 Australian jobs and about 1,000 internationally, Mr Turner said on Sunday.

Copyright (C) 2009 Asia in Focus. All rights reserved

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Company: Flight Centre Ltd. (FGETF)


Related terms: australia, net profit, travel

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