I don't think they will but lets see. They were a dying model anyway and clear not structured for reduced demand let alone a shutdown like this. If you have any remaining shares sell now at any price as you wont get anything in a few days.
I feel like its one of those brands some one will come along and buy up cheap when its tanked. Wouldnt want to own shares in it though or be an employee
FLT is a much bigger business than where it was back during SARs or the GFC. Anyone who has been to any of those Travel Expos can see how many 1000s of employees they have. I was also always amazed some shopping districts would have 5-10 Flight Centre shops - they seemed more common than kebab shops. But, because most of these businesses/brands (except the 99 bike stores) are related to travel (travel booking, travel insurance, youth travel) all these businesses have collapsed revenues at the same time, regardless of whether the customers are in Australia or elsewhere. It's just a dramatic boom/bust cycle. It will be interesting to see what news comes from the current trading halt. Who would want to lend FLT/WEB/QAN etc money in the current environment?
A mate works for one of the big airline catering company's, they have asked him to use up all his holidays then go back only 2 days a week for maybe the next 3 months if their still open that is. The guy next door works in the A/C installation industry his long time employer has closed down then he worked for 2 weeks with another company which has now put everyone off as well, young guy with a 6 month old baby & govt give them $60 a week.
Airlines are just the first. We’ll eventually see mortgage holidays, bank holidays, and then daily transaction limits with contactless cards only.
Talk in the AFR that FLT will need at least $200m in extra liquidity. But how much will be a capital raise & at what price? how many weeks would $200m last? This CV issue will take 6+months to resolve, likely longer for the travel industry. People will not travel on-bulk internationally until the pandemic is largely gone in every country around the world. All it will take is a small cluster to spark again somewhere in the world and the borders will have to shut down again (if they are reopened in 6-12 months time).
Welcome to what life is like around the world. They started this shit in Greece and Lebanon, it'll be here tomorrow .