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BUZZ-Jefferies flags margin pressure for Australia's Webjet, shares slip

Reuters
Nov 07
BUZZ-Jefferies flags margin pressure for Australia's Webjet, shares slip

** ** Shares of travel co Webjet Group WJL.AX slip 1.2% to A$0.85

**Jefferies highlights larger rival Expedia's EXPE.O Q3 B2B strength - total transaction value (TTV) rose YoY despite lower take rate, margin expansion from scale, AI

** Brokerage sees major online travel agencies pushing hard into B2B, likely pressuring margins ahead

** Notes leisure travel fully recovered from COVID-19 but faces weak consumer sentiment; underlying Leisure TTV growth expected mid-single digits

** Says scale in procurement, tech, branding gives Expedia, Booking Holdings BKNG.O, HBX Group HBX.MC edge over Webjet

** YTD, including session's moves, WJL down 2.3%

(Reporting by Kumar Tanishk in Bengaluru)

((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk http://www.x.com/thatstanishk;))

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