AS REQUESTED :
From today's AFR
Corporate Travel announced it had inked a two-year, £1.59 billion ($3.15 billion) “provision of bridging accommodation and travel services contract” in April, initially attracting a positive market reception. But backlash from refugee advocates has hit the UK government’s plans to house asylum seekers on boats.
Corporate Travel revised down full-year EBITDA guidance to a mid-point of $220 million from $260 million previously. It blamed macro events for $15 million of the decline and said challenges and timing delays from its United Kingdom immigration business contributed another $25 million.
“Management stated they have taken a conservative approach to revised guidance which now assumes no further growth from the UK bridging contract from current levels,” Mr Chen said.
Bibby Stockholm, page-15
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