Webjet's changing business model

John Guscic is the Managing Director of Webjet. Alan Kohler spoke to John on the back of their half-yearly results, and how their business is shifting to becoming a hotel beds operator.

John Guscic is the Managing Director of Webjet. Their shares popped up enormously just the other day when their half yearly results came out. It wasn’t a particularly fantastic result but the shares went up from $12 to $16. Mind you, it was just getting back to where it was in the middle of last year, the shares fell a fair bit since then. But it still looks fairly cheap on a 14 x PE. They were sold off, probably over-sold I’d say in the big correction of last year and the business is changing, this is the point, I suppose. What I’ve really explored with John is that the business has changed to becoming a hotel beds operator, B2B, not business to consumer. Traditionally the business of Webjet has been to sell airfares, air tickets to consumers online but now it’s becoming a wholesaler of hotel beds to other travel agents and other partners.

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