I highly doubt a competitor would take out this company unless...

I highly doubt a competitor would take out this company unless its someone like flight centre who doesn't really have an online offering (or not a very good one) and wants to get into that space... and they seem to be growing at a fast rate so why would they.

lower aud would probably mean that economic activity is on the wane (lower export earnings, lower domestic demand) and as such discretionary spending (ie travel) drops. so i'd suggest any switching for o/s travel to domestic would be offset by an overall lower demand for their service and cancel it out.

for me the hidden gem is the corporate booking market, the potential for growth in their overseas business and the flight side of the business. these could really take off and provide additional growth as the room booking side of the business seems to have matured.

what i don't understand is why similar stocks such as SEK and CRZ can keep growing faster then their market (ie taking market share) and WTF cannot.

until they get the growth rate back up to where it was (when the PE was 20+ and the share price $7+) we are not going to see substantial price appreciation and thats why most analysts are not hot on the stock.