Liberty Travel stores temporarily closed

Flight Centre Travel Group has temporarily closed all
Liberty Travel stores in the United States.

Alysa McKenna, the company’s U.S. director of corporate
communications, said no decisions have been made about permanent closings. The
company has instituted some layoffs and furloughs that it intends to be

Meanwhile, there are still a number of travel advisors
working remotely to service customers. McKenna also said some stores are still
operational virtually.

The company is also shuttering Flight Centre retail stores
in Australia.

Australia-based Flight Centre has received some rescue funding,
including an AUD $200 million loan (about $124 million U.S.) from existing
lenders plus entitlement and placement offers to investors totaling approximately
AUD $700 million (about $434 million U.S.).

The company also said it has reduced annual operating
expenses by AUD $1.9 billion (about $1.19 billion U.S.).

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