Hurtigruten takeover
Hurtigruten takeover

Flight Centre Travel Group giving away 1.9 million shares in retention program

The Flight Centre Travel Group has unveiled a retention program targeted at the company’s global sales force and support staff.

The Flight Centre Travel Group has unveiled a retention program targeted at the company’s global sales force and support staff.

The Flight Centre Travel Group has said it will be giving away company shares to global staff who commit to continuing their FLT careers during what is expected to be the “recovery phase” through to December 31, 2022.

Company leaders expect about 7,500 workers will take up the offer and receive about 1.9 million shares.

These shares would be worth about $30 million, based on Friday’s share price.

Flight Centre, Auckland
Flight Centre, Auckland

Managing director Graham Turner said, “This is a material investment in the people who are integral to both our recovery and our future success.”

“The program underlines our people’s importance and recognises their efforts and their loyalty since the pandemic began and heavy travel restrictions were imposed, adversely impacting their earning potential, while they continued to work incredibly hard to help customers secure refunds or rearrange their travel plans.

“It is first and foremost a retention program that encourages our people to continue their careers with us during what we believe will be an important 18-month period as vaccination programs progress, trading conditions start to normalise and the recovery starts to gain momentum.”

Source: ASX