0012 GMT - Flight Centre's profit warning was larger than RBC Capital Markets expected, but not completely out of the blue given the Middle East conflict's disruption to leisure travel. Flight Centre now expects an underlying pretax profit of A$275 million-A$295 million in FY 2026. That's down from a prior forecast of A$310 million-A$345 million. "Taking a more constructive stance, the downgrade is largely historical while on a forward-looking basis, two key positives have emerged this week which should be supportive for FY27," says analyst Wei-Weng Chen. First is the U.S.-Iran peace agreement. Second is Australia lowering its travel advice for Bahrain, Israel, Kuwait, Qatar and the UAE from 'Do Not Travel' to 'Reconsider your need to travel.' Flight Centre is up 1.3% at A$11.96. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
June 16, 2026 20:12 ET (00:12 GMT)
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