March 18, 2020 / 3:12 AM / 24 days ago

BRIEF-Flight Centre Travel Accelerates Business Review, Seeks Further Cost Cuts

March 18 (Reuters) - Flight Centre Travel Group Ltd :

* ACCELERATED ITS URGENT BUSINESS REVIEW TO IDENTIFY FURTHER COST AND CASH SAVING INITIATIVES

* ALSO INITIATED TALKS WITH FEDERAL GOVERNMENT TO DISCUSS BROADER INDUSTRY ASSISTANCE PACKAGES

* WILL SEEK TO PRESERVE AS MANY ROLES AS POSSIBLE BUT JOB LOSSES ACROSS INDUSTRY AND WITHIN CO ARE INEVITABLE

* TO HOLD FURTHER DISCUSSIONS WITH STAKEHOLDERS TO MANAGE FINANCIAL IMPACT OF DROP IN TRAVEL ACTIVITY IN NEAR-TERM

* WILL BE SIGNIFICANTLY IMPACTED BY RECENT EVENTS, INCLUDING UNPRECEDENTED GOVERNMENT-IMPOSED RESTRICTIONS ON INTERNATIONAL TRAVEL Source text for Eikon: Further company coverage:

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