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Online travel company Webjet Group has listed on the ASX following its demerger last week.
The group – which comprises the Webjet online travel agency, motorhome and car rental ecommerce site GoSee, and travel tech company Trip Ninja – has entered the stock market after splitting from parent company WEB Travel Group Limited, with more than 97 per cent of shareholders voting in favour.
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The company will initially trade under the code WJL on a conditional and deferred settlement basis, with normal trading expecting to start on 1 October.
“With the demerger, we now have a dedicated board, leadership team and balance sheet, creating a unique opportunity to advance our strategic growth agenda,” said Webjet Group CEO Katrina Barry.
“Our team, who have worked incredibly hard to provide our customers with the greatest convenience, choice and customer service over a significant period, are focused and ready.”
“I’m excited to build on this strong foundation as we continue driving positive outcomes across the company. Each of our three business units – Webjet OTA, GoSee, and Trip Ninja – has a clear, distinct growth strategy that we are eager to pursue.”
Webjet chair Don Clarke said the independent listing is “a new chapter” for the group.
“On behalf of the entire Board, we are proud to be part of this important milestone and warmly welcome our new shareholders as they join us on this journey,” he said.
Webjet is Australia and New Zealand’s biggest online travel agency, with 8.2 per cent of all GDS bookings, four per cent of international bookings, and 11.1 per cent of domestic bookings, in the 2023-24 financial year.
“Since the pandemic, overall market share is up 46 per cent, reflecting our ongoing focus on offering customers the greatest convenience and choice,” said then-managing director John Guscic in the company’s annual report earlier this year.
“We are particularly excited about the growth coming through in international. International market share has increased 33% since the pandemic and 14% in the last 12 months.
“Flight capacity is returning to the market which has increased competition, and our investment in Trip Ninja is enabling us to offer real price savings to customers booking multi-stop flight itineraries. We see substantial runway in the international flights market and believe we can continue to significantly increase our market share.”
