ACCC: Webjet to pay A$9m in penalties for misleading statements

ACCC: Webjet to pay A$9m in penalties for misleading statements

July 2, 2025 - The Australian Competition and Consumer Commission (ACCC) has announced that Webjet Group (WJL) will pay A$9 million in penalties for making misleading statements to the market. The penalties are part of an ongoing investigation into the company's financial reporting practices.

The ACCC alleges that Webjet Group provided inaccurate and incomplete information to investors and the market, which could have influenced investment decisions. The penalties are a significant step in addressing market integrity and ensuring that investors receive accurate and timely information.

This development comes amidst a period of strong performance for travel companies in Australia. Helloworld Travel (HLO), a major player in the travel sector, has seen its shares soar recently, with a 16.5% increase to A$1.730, marking its biggest intraday percentage gain since November 2020 [1]. The company attributed the surge to an improved margin, effective cost management, and gains from the revaluation of its stake in Webjet Group.

Helloworld Travel expects its underlying EBITDA (UEBITDA) for the fiscal year 2025 to be between A$58.0 million and A$62.0 million, an upward revision from its earlier expectations of A$52 million to A$56 million [1]. This positive outlook is a reflection of the company's efforts to enhance its financial performance and adapt to the changing market conditions.

The ACCC's action against Webjet Group underscores the importance of transparency and accountability in corporate reporting. Investors should closely monitor the developments and ensure that they are receiving accurate and reliable information from the companies they invest in.

References:
[1] https://www.tradingview.com/news/reuters.com,2025:newsml_L4N3TP01M:0-australia-s-helloworld-travel-soars-most-in-nearly-five-years-on-forecast-hike/