Overview
- Virgin Australia will revive its Virgin Australia Holidays brand on July 1 and reduce the commissions it pays Webjet, pushing more package bookings to its own site.
- Webjet said the new terms would have cut about $3 million from underlying revenue if they had applied from the start of 2026.
- For the year to March 31, Webjet reported underlying earnings of $28.1 million, down 20%, and a net profit of $3.5 million.
- Webjet halted ASX trading after Virgin’s announcement before resuming normal trade, with shares at 49 cents when the halt began.
- CEO Katrina Barry is resigning as Webjet contends with weaker leisure demand, AI tools that make self-booking easier, and airlines and larger rivals drawing customers away from OTAs, which could mean fewer airfare deals on aggregator sites.