Travel giant a casualty of price war


CUT-throat competition between discount airlines Jetstar and Virgin Blue may be fine for the passengers but the nation’s biggest travel agent, Flight Centre, has been caught in the crossfire.

The stockmarket yesterday carved $270 million off the value of Flight Centre, after the travel retailer issued a statement to the ASX late on Thursday night saying its profit for the six months to December would be up to 10 per cent lower than last year

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