After Air New Zealand, Webjet Also Withdraws its FY20 Guidance

1 min read | March 11, 2020 01:10 PM AEDT | By Team Kalkine Media

Due to the continuous ambiguity of the length and scale of Covid-19, Webjet Limited (ASX:WEB) has revoked its FY20 EBITDA guidance, which it provided on 19th February 2020.

  • There has been an increase in cancellation rates of near-term travel and a reduction in overall travel booking activity;
  • Major cancellations are occurring at short notice prior to travel and therefore reducing visibility on future earnings;
  • Managing Director John Guscic and the Board of Directors have voluntarily agreed to reduce their salary and directors’ fees by 20%.

At AEDT 01:07PM, the stock was trading at $7.290 per share, down by 0.137% from its previous close.


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