Flight Centre Travel Group's corporate division achieved record levels of total transaction value and revenue in its last financial year, as "headwinds" from the Middle East crisis were offset by growth of the company's U.S. corporate business.
The Australia-based company highlighted the “standout” performance of its U.S. corporate division in the full-year earnings for the year ending on June 30 with annual TTV in the U.S. exceeding US$2 billion for the first time following a year-over-year increase of just under 10 percent in local currency.
In an earnings call, Flight Centre global corporate CEO Chris Galanty said even with strong growth in the U.S. from its corporate business, its market share is still "very small" with "a large runway for future growth."
Flight Centre's global corporate travel division's TTV grew 2.9 percent year over year to A$12.7 billion (US$9.1 billion) for the year, with revenue rising by 3.3 percent to A$1.2 billion (US$860 million). Corporate travel's underlying EBITDA was up by 24 percent year over year to A$275 million (US$197 million).
Galanty said FCM has had some "very strong wins," particularly in the second half of the fiscal year, and that has continued into the current fiscal year with "the strongest start to a new financial year in FCM over the last seven weeks in terms of wins." He added the request-for-proposal pipeline also is "very active."
"It's fair to say we haven't seen as many RFPs out and our pipeline as strong for a number of years," Galanty said.
SME-focused TMC brand Corporate Traveler was singled out as a "star" performer during the financial year by Chris Galanty, Flight Centre's global corporate CEO. Corporate Traveler achieved TTV of A$5 billion (US$3.6 billion) for the first time during the year, thanks to 8 percent year-over-year growth "despite currency headwinds."
As with the larger corporate travel business, Galanty said Corporate Traveler has seen strong growth in the U.S. and Canada.
Both markets are "huge markets where we have a small market share and a great opportunity for growth, and where the combination of Melon and our consultants is winning," Galanty said. "We will be investing more in growing key locations such as New York, London, Toronto and Montreal as well as many other large cities across North America and the U.K."
Flight Centre managing director and CEO Graham Turner added that the group's corporate customer base "remains resilient," as indicated by a market survey the group ran in July and August. About 80 percent of respondents said they plan to maintain or increase travel budgets.
"Our SME customers through Corporate Traveler are even more upbeat, with about 83 percent planning to increase or at least hold their budgets," Turner said.
The company noted that corporate travel had been "less affected" than its leisure businesses by the disruption in the Middle East from late February, which had already caused the company to downgrade its expected earnings for the year. Flight Centre added that the Iran war had caused “heavy impacts” on its corporate travel brands located in the Middle East region, including FCM UAE (United Arab Emirates) where TTV was down by 15 percent year-over-year.
The company also noted that 11 percent of its corporate travel revenue was now coming from services outside "traditional" travel management, including payment and expense, meeting and events, and other "adjacent offerings." This figure was up from 9 percent in 2025.
Across all its operations, Flight Centre increased TTV by 4.7 percent year over year to A$25.7 billion (US$18.4 billion), with revenue up by 2.5 percent to A$2.9 billion (US$2.1 billion). Pre-tax earnings were flat at A$213 million (US$153 million).