BUZZ-Jefferies flags margin pressure for Australia's Webjet, shares slip
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Shares of travel co Webjet Group (WJL.AX) slip 1.2% to A$0.85Jefferies highlights larger rival Expedia’sQ3 B2B strength - total transaction value (TTV) rose YoY despite lower take rate, margin expansion from scale, AIBrokerage sees major online travel agencies pushing hard into B2B, likely pressuring margins aheadNotes leisure travel fully recovered from COVID-19 but faces weak consumer sentiment; underlying Leisure TTV growth expected mid-single digitsSays scale in procurement, tech, branding gives Expedia, Booking Holdings, HBX Group (HBX.MC) edge over WebjetYTD, including session’s moves, WJL down 2.3%
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