ASX travel giant plunges 80 per cent

Corporate Travel crashes 80pc on ASX return after overcharging scandal

Existing investors in the travel agent had already slashed the value of their holdings following a year of damaging revelations.

ASX travel giant plunges 80 per cent

Shares in one of Australia’s largest travel businesses have plunged on relisting after the business was embroiled in an overcharging scandal last year.

Corporate Travel Management shares plummet

Shares in a major travel services company used by parliamentarians and embroiled in a $100 million scandal, Corporate Travel Management, have plunged more than 80 per cent. Follow the day's events and insights from our business reporters on the ABC News live markets blog.

Corporate Travel Plunges Amid Market Shifts

The Australian Securities Exchange saw modest gains nearing noon on Wednesday, yet overall advances were tempered by significant ex-dividend declines in major stocks, including Woodside and BHP. In a notable market event, Corporate Travel Management’s share price plummeted 80 per cent upon its re-listing to the ASX, marking a turbulent return for the travel management firm. Separately, Citi upgraded Telstra to a “buy” rating, while Santos announ…