Flight Centre buys Topdeck, while ACCC fine and writedowns dent profit

By Elysse Morgan

Flight Centre is returning to its roots, taking a majority stake in UK touring company Topdeck Tours, which is where the global travel business started in 1973 when Graham Turner and Geoff Lomas bought some old London buses, kitted them out with beds and drove Aussies around Europe.

Travel company Flight Centre has defied predictions that bricks and mortar travel companies would not survive, posting a record underlying profit and pushing on with expansion in a “new golden age of travel”.

Flight Centre says, excluding these one-off costs, it has made a record underlying profit of $376. 5 million and had record transaction value in excess of $16 billion, and believes now is the right time to take the majority stake in Topdeck.

Read more here: ABC


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