Business Travel Agencies on Sounder Footing Than Leisure Operators -- Market Talk

Dow Jones11-19

2238 GMT - Global Business Travel Group, Flight Centre and Corporate Travel Management have an opportunity in front of them even though demand for business travel appears to have settled at a lower than before Covid-19, Jefferies says. Total transaction value for business travel is at some 80% of pre-pandemic levels, analyst John Campbell says. The listed trio can win market share over time from smaller players, and business travel appears to have a lower risk of disruption than leisure travel. Jefferies views Corporate Travel Management as the best opportunity in the sector. "It has been materially de-rated and recent earnings downgrades have been driven largely by its material exposure to government agency project and humanitarian work," Jefferies says. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

November 18, 2024 17:38 ET (22:38 GMT)

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