The Magellan Board and Management have shared news of a record year-end profit at a series of Magellan Members Dinners.
CEO Andrew Macfarlane revealed a 41% increase in YTD net income against a backdrop of continued cost control that will see year-end profit to Members exceed $8 million.
Emma Whiting (L) of Emma Whiting Travel and Kay Franklin (R) of The Travel Agency in Moonee Ponds.
“Our Members continue to prosper in mixed market conditions because they are the high performers of the industry and they don’t focus on the heavily competed and low-yield mass market.”
Andrew Macfarlane, CEO
“This drives strong results for our preferred partners and earns increased rewards and, of course, in our model what we get, our members get, undiluted and undiverted” he added.
A major topic of discussion at the Dinners was Magellan’s new Consumer and Agency Protection Solution which, according to Macfarlane,is a market leading solution in terms of its breadth of cover protecting Agents and their consumers in the unfortunate event of the failure of any supplier.
Adrienne Witteman (L) of Trendsetter Travel & Cruise catching up with Stephanie Savage (R) of Impulse Travel Group.
“It would protect consumers in the highly unlikely event of the failure of a participating Magellan Agent”, Macfarlane said.
“In the deregulated environment Agents and their Groups are now free to innovate and create their own tailored commercial solutions for Consumer and Agency Protection”, he said noting that Agents have “unduly borne the risk in the case of supplier failure because of the threat of credit card chargeback”.
Sue Busbridge, Magellan Business Manager joins in the conversation with Tina Killeen (L) and Penny Spencer (R) of Spencer Travel Group.
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