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Flight Centre Travel Group has upgraded its 2023 fiscal year profit guidance, expecting underlying earnings between $295m and $305m for the 12 months to June 30, 2023. The new midpoint represents a 7% increase in underlying EBITDA and a $483m turnaround from the underlying $183m loss in FY22. Total transaction value (TTV) is expected to be around $22bn, with record TTV in corporate travel and $10bn in leisure.
FCM Consulting's latest Global Trends Report shows that demand for business and leisure travel in Q1-2023 is forecast to be at 85.5 per cent of 2019 levels. Corporate travel demand remained strong, with a 27 per cent rise in online adoption and average days away held firm at 2.9. Global hotel occupancy for the quarter was 60.46 per cent. Air travel is predicted to stabilise this year, with added capacity in H1-2023 and airfares moderating in the second half 2023. Asia saw the highest seat growth in Q1-2023 vs Q4-2019, with a 12.2 per cent increase.