TheĀ Flight Centre Travel Group LtdĀ (ASX: FLT) soared today and likely dragged other ASX travel shares higher with it.
The Flight Centre share price closed the session on Thursday up 4.04% to $21.65 per share.
Also flying high today were fellow ASX travel shares:
- Helloworld Travel Ltd (ASX: HLO) shares, up a hefty 9.41% to $2.79 per share
- Webjet Limited (ASX: WEB) shares, up 2.72% to $7.54 per share
- Qantas Airways Limited (ASX: QAN) shares, up 1.55% to $6.56 per share.
Webjet, Qantas, and Helloworld did not release any official news to the ASX today.
What news has investors buying ASX travel shares today?
Flight Centre upgraded its earnings guidance for FY23 today.
The company now expects underlying earnings before interest, taxes, depreciation and amortisation (EBITDA) of between $295 million and $305 million in FY23.
This is up from between $270 million and $290 million previously.
The company noted this represented a $483 million improvement from the underlying $183 million loss posted in FY22.
Flight Centre also expects $22 billion in total transaction value (TTV) for FY23, up almost 115% year over year.
This represents the company’s second-best full-year result ever. Its best was $23.7 billion in TTV in FY19.
Flight Centre remains the most shorted stock of the ASX shares, with 10.45% of its capital shorted.
This means a lot of pro traders are expecting the Flight Centre share price to go down.
