The Webjet Limited (ASX: WEB
) share price was charging 4.7% higher today despite the S&P/ASX 200 (INDEXASX: XJO) moving up just 0.1%.
About Webjet
Webjet is the online travel business offering packages to both consumer markets (‘B2C’) and wholesale markets (‘B2B’). It was established in 1998 and now claims to be the leading online travel agency (OTA) in Australia and New Zealand.
As Rask Media’s Luke Kennelly wrote yesterday, “Why The Webjet Share Price Is Going Through Turbulence”
, Webjet will be forced to write-off $44 million of money owed to it by its now-bankrupt UK partner, Thomas Cook.
The company also noted that it will take a hit in the form of less payment volume coming through its platform. However, the long-run impact is likely to be negligible.
Indeed, there is plenty to like about Webjet’s business including its scalability, technology focus, balance sheet and long-term management.
Perhaps a good night’s sleep was all that was needed to reignite investors’ enthusiasm for Webjet shares?
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Disclosure: At the time of publishing, the author of this article does not have a financial interest in any of the companies mentioned.
