Flight Center closes more retail outlets

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Flight Centre will close down another 91 outlets across Australia, after widespread travel bans and border closures led to tens of thousands of dollars of cancelled bookings.

Hundreds of workers will lose their jobs at these newest store closures.

This was on top of the 4,000 sales and support employees that Flight Centre had already axed in the previous six months.

These latest cuts will leave the fighting travel agency with 332 surviving retail outlets.

In August, the company posted a full-year loss of $662 million, a major downgrade from its previous result (a $264 million gain ).

Flight Centre shares jumped (+2 points ) to $14.04 by 12:00 pm AEST.

However, the coronavirus pandemic has resulted in its share price tumbling 64.6 per cent since the year started.

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