Corporate growth prompts Flight Centre name change

Corporate growth prompts Flight Centre name change
By admin


Flight Centre will become Flight Centre Travel Group to better reflect the diversity of its offering as it grows beyond the mainstream leisure sector.

The new name highlights the retailer’s transformation from a leisure travel agent to a retailer of both leisure and corporate travel products, according to managing director Graham Turner.

“The board believes the name change is in the company’s best interests and reinforces the depth of its business, a strength that is sometimes overlooked,” he said.

“FLT is now the holding company that sits behind more than 30 brands, in addition to the iconic Flight Centre brand.”

Brands such as FCm, Corporate Traveller and cievents have made it Australia’s largest corporate travel manager, he added.

“Last year, our company generated more than 30% of its global sales from corporate travel and almost half of its sales in Australia came from corporate or niche leisure brands.”

The name change coincides with the appointment of PriceWaterhouseCoopers partner, Robert Baker, to the FLT board as independent non-executive director.

He replaces US-based Peter Barrow who stands down after 18 years to concentrate on other business interests.

Chairman Peter Morahan described Barrow as an “outstanding contributor” to FLT.

“We thank him for his efforts and for the important role he has played in the company’s success during the past 18 years,” he said.

He anticipated that Baker would be a “great asset”, highlighting his record of financial and leadership experience.

Both changes are subject to shareholder approval at FLT’s annual general meeting in Brisbane on October 31.

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