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Webjet Faces Challenges, Invests in Tech for Future Growth
Description
Webjet, a leading online travel booking platform, is grappling with economic headwinds and a competitive threat from Virgin Australias new booking service. Despite a net profit of $3.5 million, underlying earnings dropped by 20%. Domestic bookings declined by 10% due to higher airfares and economic pressures, but international travel saw a slight increase of 1%. Webjet is investing in AI tools and ChatGPT apps to stay competitive, drawing lessons from the pandemic about travels resilience. As the travel booking landscape evolves, Webjet is focused on future growth amidst leadership changes and competitive pressures.
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