Webjet

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For the Brazilian airline, see WebJet Linhas Aéreas.

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Webjet Limited
Public
Industry Travel
Founded 1998
Founder David Clarke, John Lemish, Allan Nahum
Headquarters Melbourne, Australia
Slogan "Experience the wonder"
Website www.webjet.com.au

Webjet Limited (ASX: WEB) is a travel booking website offering flights, hotels, holiday packages, cruises, car hire, travel insurance and travel deals. The company has operations in Australia, New Zealand, North America, Singapore and Hong Kong. Webjet also has a franchise agreement for brand and booking engine associated technology licenses with BidTravel, South Africa.[1]

History

Established in 1998, Webjet was founded by former Jetset Travel Chief Executive David Clarke. The company was publicly listed on the ASX in 2000 through a reverse takeover deal with Roper River Resources NL.[2]

Webjet announced their plans to open their New Zealand website, Webjet.co.nz on 21 July 2004.[3]

In 2007, Webjet made a bid for the website Travel.com.au valued at approximately $42.3 million.[4] The deal failed following a bid from Wotif.com which valued Travel.com.au at approximately $49.8 million.[5]

On 17 September 2009 Webjet announced their plans to commence operations in North America (Webjet.com) through a Joint Venture with Mathias Friess, formerly General Manager Global Sales and Distribution of the Virgin Blue Group of Airlines.[6]

On 30 June 2010 it was announced that Webjet had entered into a Joint Venture with Westminster Travel in Asia to initially cover the establishment of Webjet in Singapore (Webjet.com.sg) and Hong Kong (Webjet.com.hk).[7]

In August 2010, it was announced that the board of Webjet would be restructured, with the chairman, Allan Nahum, stepping down from his role but continuing as a non-executive director. Webjet said the restructuring was to help "the best possible balance of executive and non-executive directors".[8] John Guscic assumed the role of Managing Director for Webjet on April 1, 2011,[9] while former Managing Director and founder David Clarke assumed the role of Non Executive Chairman.[10] Upon assuming the role of Managing Director, Guscic claimed that Webjet would have a renewed focus on "securing more hotel business".[11]

In February 2011 Webjet announced the launch of Lots of Hotels, a B2B international hotel aggregation platform operating in the Middle East and Africa, offering the most extensive inventory in the region with over one million hotel rooms on sale world-wide.[12]

Webjet reported record profits in their "Annual Results 30 June 2011" published on 11 August 2011, displaying a 17% growth in total transaction value to $592 million, a net profit before tax growth of 8% to $15.7 million, as well as net profit after tax up 5% to $11 million.[13][14] The record profits were realised in the same period as an operating loss of $700,000 for Webjet's markets in the United States and Asia.[15] Due to the record profits, a dividend of six cents per share was paid to investors in October 2011, taking the yearly payout overall to eleven cents per share.[16]

On 8 February 2012, the company announced in their "Half Year Results Ended 31 Dec 2011" that TTV for the half-year had grown 29% to $369 million, and that NPAT was up 17% to $5.9 million, marking sixteen consecutive half-years of growth.[17][18]

In December 2012, Webjet announced it had entered agreements to acquire Zuji in Australia, Hong Kong and Singapore.[19] The deal was described as allowing Webjet to "substantially expand" its presence in Asia, with Webjet required to raise $25 million in order to complete the purchase.[20] The acquisition was completed on 22 March 2013.[21]

On 21 August 2013, Webjet announced a profit of $11.4 million and NBAT of $6.5 million. During the year the company experienced a growth in total transaction values of $110 million from $768 million to $884 million.[22]

On 14 July 2014, Webjet announced it entered into a binding Heads of Agreement to acquire the SunHotels Group in Europe.[23]

On 20 August 2014, Webjet announced record results in their Annual Results 30 June 2014, with $19.1 million NPAT and total revenues of $98.6 million, up 31.9% over the previous corresponding period.[24]

On 13 April 2012, it was announced that Webjet would take over the sponsorship of Melbourne Football Club. It sponsored the team until the end of the 2013 season[25]

References

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External links

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