Flight Centre reviews Pedal Group ownership, continues share buy-back

Flight Centre Travel Group (FLT) today clarified its position on the Pedal Group cycle joint venture, in which it holds a 47% stake. FLT and the Turner family, who hold 35%, have engaged Grant Samuel to review future ownership options. FLT intends to maintain its investment but remains open to proposals, noting the Pedal Group's strong performance in the 2025 fiscal year. Any transaction is not expected to materially impact FLT's financial position.

Concurrently, FLT has been engaged in an on-market share buy-back program, aiming to repurchase up to A$200 million in shares. As of October 6, 2025, FLT had bought back 8,612,123 shares. This includes 340,983 shares on September 29 for a total of A$4,069,435.70, 399,825 shares on September 30 for A$4,673,495.65, 290,711 shares on October 1 for A$3,343,165.16, and 103,299 shares on October 3 for A$1,228,818.98.

Various financial entities, including Citigroup Global Markets Australia Pty Limited and JPMorgan Chase & Co., have reported changes in their substantial holdings in FLT. Citigroup became a substantial holder on September 26, 2025, with 11,017,331 ordinary fully paid shares (5.1145% voting power), increasing to 11,599,816 shares (5.3849%) by October 1, 2025. JPMorgan Chase & Co. became a substantial holder on September 25, 2025, with 12,341,757.79 shares (5.73%), before ceasing to be one on October 1, 2025, with 10,693,261 shares.