Webjet hits record profits, up 146% from 2016
Webjet has snagged a net profit after tax of $52 million for the 2017 financial year, a jump of 146 per cent on last year.
Revenue scooped a 52 per cent increase to hit $234.9 million.
The ongoing growth of the Webjet OTA business was boosted by flight bookings growing at more than six times the underlying market.
Throughout the year, the business completed its integration of Online Republic, resulting in a 25 per cent leap in earnings before tax.
Meanwhile, the $28 million gain on sale of Zuji allowed Webjet to focus on a higher growth in B2B accommodation in the Asian market, and its WebBeds business partnered with Thomas Cook and saw the launch of FIT Ruums in Asia.
WEbjet also made a strong move in the hotel game with the acquisition of JacTravel, making WebBeds the second biggest player in the global B2B market.
Webjet bookings were up 11.4 per cent to $1.4 million, while its Total Transaction Value was up 15.3 per cent to $1.4 billion.
Webjet’s Managing Director, John Guscic, said he was stoked with the performance throughout the year.
“The continual market share growth that the Webjet OTA continues to deliver is a credit to the team in its ability to be agile and responsive to market needs,” he said.
“Online Republic is meeting our high expectations and we continue to be delighted with the purchase and the valuable contribution of the management team.
“The B2B business had a phenomenal year.
“Bookings growth in all markets demonstrates the importance of building a global business able to deliver deep inventory at attractive prices to a wide range of customers.
“Going forward, our strategy is to grow market share in each of the markets in which we operate,” he added.
“To do so means we need to grow faster than the underlying market.
“Average booking values in both B2B and B2C markets are driven by market conditions over which we have little control and therefore TTV growth targets are a limited metric by which to exclusively measure performance.
“We believe bookings growth is a more meaningful metric to measure our performance and is driven by providing outstanding service, offering superior technology, highly effective sales and marketing teams and having competitively priced inventory – all of which are key focuses for our businesses.
“We believe we are well positioned for ongoing bookings growth at the B2C market continues to shift online and we continue to focus on improving visitations and conversions.
“We expect our global WebBeds business to benefit from the network effect from increasing global inventory offerings.
“Together with our low cost, multi-supply aggregation strategy model, we believe we can continue to offer the greatest breadth and depth of inventory at competitive prices to our B2B customers.”
Latest News
Nielsen Data reveals brands spending big to attract Aussie tourists
TripADeal had the biggest outlay of the more than $153 million spent on travel and tourism advertising in Australia in the first quarter of 2024, followed by Virgin Australia and Flight Centre-owned Ignite Travel, new Nielsen Ad Intel data has revealed. And the industry ad spend enjoyed an increase of 8 per cent on the […]
Kamalaya Koh Samui clinches clutch of wellness awards
Kamalaya Wellness Sanctuary & Holistic Spa has so far clinched five prestigious awards in 2024, including being inducted into the ‘Hall of Fame’ at the World Spa & Wellness Awards in London. Founders of the Koh Samui sanctuary and spa John and Karina Stewart expressed their heartfelt gratitude for the awards. “We are profoundly honoured […]
Jetstar offers 200,000 return for free flights to celebrate 20th anniversary
Jetstar hits 20 and everyone else gets the presents with free return flights to domestic and international destinations.
Amora Hotels & Resorts set to double APAC portfolio, announces new Sydney office
Staff in the new Sydney office have been welcomed by a week of rain on the forecast.
RIU opens Chicago hotel and rooftop bar a few steps from the world-famous Magnificent Mile
Rooftop cocktails hold a dear place in your heart? Look no further than RIU Chicago.
How can travel agents best sell cruises? Uniworld’s Alice Ager tells all: Travel Weekly TV
Agents, you don't want to miss this. Yes, that's the case with everything in the newsletter, but we really mean it here!
South Africa bookings are back in action
It's a wrap! South Africa in the news with resumed flights, film fest and booking tech.
Agents’ chance to score free spot on Intrepid trip to Antarctica
This is the trip of a lifetime, even if you are scared of the cold!
Bonza nosediving amid mass cancellations and reports of repossessed planes
Bonza's days appear to be numbered as the low-cost carrier today announced mass cancellations around the country.
Amy Poehler joins Vivid Sydney event
Oh Joy! Hit comedian Amy Poehler will make an emotional appearance at the Sydney Opera House for Vivid.
Pullman Sydney Penrith ties up with Trilogy Hotels, announces new GM
The crew from Trilogy hotels doing their best impression of the Penrith front row here.
Linkd appoints Carolyn Nightingale and Lawson Dibb to new roles
Linkd Tourism sings praises of Carolyn Nightingale and dubs Lawson Dibb as Kyushu Tourism Office guru.
Celebrity Ascent makes its European debut
Choosing to cruise this northern summer? Celebrity Ascent promises to raise the bar.
NCL opens sales for Norwegian Sun’s APAC debut, announces 14 new voyages
It was to be 13 new voyages we heard, but given the numbers unlucky nature, an extra had to be thought up.
Inside Travel Group appoints Tom Welland Global Trade Marketing Manager
Heidi's Tom Welland heads to Inside Travel Group as its new Global Trade Marketing Manager.
Federal Government rolls out $1.4m program to promote careers in tourism across regional NSW
The Government taking a break from some of its pointier issues with some work in our incredible industry!
Australian visitors to South Korea surge
Japanned out? Aussies are adding South Korea to their bucket list.
G Adventures celebrates Dr. Jane Goodall’s 90th with new wildlife-focused trips
Fancy yourself as a bit of a conservationist? Put your skills to the test on the Jane Goodall collection.
Virgin Australia says suspended flights to Bali result of Boeing MAX delays
If only we had a company like Boeing to blame our mistakes on. Any takers? Get in touch!
Airline Review: Singapore Airlines Business Class – A380-800
The iconic Singapore Airlines' A380-800 is in a class of its own - business class that is.
South African Airways to relaunch Joburg – Perth flights as economic ties strengthen
Bringing two of the world's most distinctive accents closer together, for good or for bad is yet to be determined.
My journey: Before becoming a travel agent I was… a palliative care nurse
Australind Travel & Cruise, Travellers Choice member Saibra Twigg reveals her life as paediatric nurse then to palliative care before a career leap to travel agent. How did you become a palliative care nurse? ST I went straight from school in nursing and initially specialised in paediatrics, working at Perth’s Princess Margaret Hospital for Children. […]
Emirates unveils future plans with new hub at Al Maktoum International Airport
We've also been looking into our future. It involves plenty of famils, we hope.
Australia fails to make top 10 destination list for American travellers
Australia's top cities have failed to make the grade with American travellers this northern summer, with no local city in the top.
APT Launches 2025 Asia Adventures
APT has launched its Asia Adventures for 2025, including new luxury holidays in India, Sri Lanka and Japan. Five new tours lead guests to the highlights of India, including a seven-night cruise along the rarely travelled Lower Ganges aboard the Ganges Voyager. Further south, Sri Lanka’s greatest destinations are revealed on a new 15-day Land […]
ANZAC Battlefield travel on the 2025 bucketlist
As Anzac Day dawns, agents prepare for a surge in bookings for the 110th anniversary of the Anzac Cove landings.
Former Channel 9 Getaway host and founder of TRIBE Jules Lund to speak at Travel DAZE
From blond-tipped travel reporter to Travel DAZE speaker, Jules Lund cuts through the BS.
HX’s Roald Amundsen finds aliens in the Antarctic
Forget whales, HX's MS Roald Amundsen captures aliens in the Antarctic - and they're not pretty.
Mayhem in France as 70% of flights face cancellation
I mean it wouldn't be France if there wasn't at least one strike.
Etihad Airways launches double-decker service with world’s only in-air three-room suite
We imagine falling asleep in the three-room suite is superior to falling asleep on your neighbour's shoulder.
Norwegian Cruise Line launches 2024 Europe travel season
Europe certainly has a lot of ports. Its time for Australia to up its game.
“The power of travel for positive change” – Intrepid’s Jenny Gray hails controversial all-women Saudi Arabia trip
There is an awful lot to love about this tour from Intrepid. Where do we sign up?
Princess names the Sun, unveils Sanctuary Collection + Star Princess to Alaska in ’26
A huge bottle of Veuve was smashed into the side of the ship to make things official. So no, we couldn't snag a glass.
Collette special offers across peak northern summer season
If you are craving a trip to Europe then grab this deal with both of your grubby hands.
Air India and All Nippon codeshare between the two countries
Here at TW we agreed that the photo would have worked better if they had swapped planes.
A&K offers minimum 18 weeks paid parental leave
Contrary to what the photo suggests this benefit is only applicable for humans. Back to work Mrs Jumbo.