Flight Centre’s total transaction value for its corporate travel business increased 2 percent year over year during the first half of the 2025 fiscal year, despite a downturn in Asia and a trend of its clients holding steady or decreasing travel, the company reported Wednesday.
Corporate TTV for the first half of Flight Centre’s fiscal year, which runs from July through June, was a record A$6 billion (US$3.8 billion), which is 43 percent larger than Flight Centre’s corporate business prior to the Covid-19 pandemic, according to the company. Excluding Asia, corporate TTV was up 3 percent year over year in the first half of the year, and in the second quarter of the fiscal year, TTV growth accelerated to 6.4 percent over the prior year.
Global distribution system sales data indicates that Flight Centre’s global marketshare for its corporate business has increased a percentage point to 5 percent, according to Flight Centre. For FCM, Flight Centre reported A$800 million (US$505.5 million) in contracted amount wins so far in the 2025 fiscal year and a “large pipeline” of uncontracted wins for the small-and-midsized-focused Corporate Traveler. In the U.S., Corporate Traveler’s TTV was up 10 percent year over year in the second quarter of the fiscal year and up 19 percent year over year in January.
More broadly across Flight Centre’s business, the six months were “a tale of two quarters in that 2Q TTV and profit growth rebounded after a challenging 1Q,” Flight Centre CEO Graham Turner said in a statement. “In fact, our 2Q profit growth rate more than doubled our 2Q TTV growth rate, providing good operating leverage and momentum ahead of our key trading months.”
The corporate business saw a downturn in Asia over the six-month period, with an underlying loss before taxes of A$4 million (US$2.5 million) for the period, compared with an underlying profit before taxes of A$4 million in the first half of the 2024 fiscal year. That stemmed from “downtrading, deflation and higher debt provisions,” according to Flight Centre.
Flight Centre reported downtrading—clients either maintaining or decreasing travel—occurred more widely across its corporate business during the six-month period, which also affected its results.
The corporate business “has serviced higher transaction volumes with a leaner workforce,” with year-end full-time employees for the 2025 fiscal year expected to be 5 percent lower than the end of the 2024 fiscal year, which will be “largely through natural attrition,” according to Flight Centre. The company also noted that it continues to grow adoption of Corporate Traveler’s Melon platform, with the tool now accounting for about a quarter of its transactions in the Northern Hemisphere.
