2122 GMT - Flight Centre can benefit from Corporate Travel Management's difficulties, says Jefferies. CTM last week stood down the boss of its U.K. operations and said it will reverse more than US$100 million in previously recognized revenue after an auditor change led to the discovery of errors in its accounts. "We anticipate that there is a significant probability of existing CTM customers leaving to another provider (such as Flight Centre) given risk of reputational damage to CTM following revenue restatements," analyst Michael Simotas says. CTM is also likely to be less competitive in new client tenders, and will be distracted by managing the issue. "With CTM's uncertainty and Webjet's subject to a takeover bid investor options to gain exposure to the travel sector have reduced," Jefferies adds.(david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

November 30, 2025 16:22 ET (21:22 GMT)

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