Webjet Poised For Lift-Off

Brokers heaved a collective sigh of relief as Webjet ((WEB)) chose to adopt its auditor’s view of the treatment of the Thomas Cook management fees. This means the payment in FY17 is not treated as revenue and instead transferred to financing cash flow and was the main issue in the FY17 results, as it reduced operating earnings (EBITDA) by -$11.5m.

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Webjet In UK Expansion

Online travel agent Webjet has confirmed the purchase of UK-based Jactravel Group (Holdings) for an enterprise value of £200 million (or $A330 million according to a statement to the ASX last night). Webjet says the purchase, which should be completed by the end of this month.

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