Flight Centre (ASX:FLT) inks joint venture deal to boost presence in Asia

Company News

by Melissa Darmawan

Flight Centre (ASX:FLT) celebrates a joint venture deal with Tokyo-based NSF Engagement Corporation in a bid to boost their presence in Asia.

The flight booking company views Japan as a key business hub in the world’s fourth largest travel market. They see this joint venture as a step forward while they wait for international travel to fully resume.

The new venture expands Flight Centre’s reach to 97 countries and gives them the chance to roll out their new technology. The company said that they invested heavily in innovative technology to streamline the travel experience and optimize travel programs.

Last month, they celebrated their technology debut in China giving the market a glimpse into how they plan to disrupt and facilitate a booming travel sector.

Kenichi Shiraishi will head up Japan's operations which is set to start in January next year. He is currently the leader of NSF Engagement’s corporate travel business.

The announcement comes just a week after the $3.4 billion flight booker posted a $364 million loss for the year ending 30 June. Their global corporate businesses was the better performer out of their businesses contributing 55 per cent of total transaction value for the financial year, a 38 per cent jump from the year before.

Shares in Flight Centre (ASX:FLT) is trading 0.4 per cent lower at $16.84.
 

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