Virus-bruised travel agency Flight Centre will close up to 100 underperforming stores and has scrapped its earnings guidance amid mounting airline service cuts and widening travel bans. Flight Centre brands include Escape Travel and Student Flights. "Given this uncertainty, the company has elected to suspend its revised FY20 guidance," Flight Centre said. As part of cutting costs, Flight Centre directors will forgo 30 percent of their fees for the remainder of the financial year. Mr Turner said Flight Centre was well-placed to overcome the challenge and had balance sheet strength.

Source: Otago Daily Times March 13, 2020 01:30 UTC