Jefferies flags margin pressure for Australia's Webjet, shares slip

Shares of travel co Webjet Group WJL.AX slip 1.2% to A$0.85

Jefferies highlights larger rival Expedia's EXPE.O Q3 B2B strength - total transaction value (TTV) rose YoY despite lower take rate, margin expansion from scale, AI

Brokerage sees major online travel agencies pushing hard into B2B, likely pressuring margins ahead

Notes leisure travel fully recovered from COVID-19 but faces weak consumer sentiment; underlying Leisure TTV growth expected mid-single digits

Says scale in procurement, tech, branding gives Expedia, Booking Holdings BKNG.O, HBX Group HBX.MC edge over Webjet

YTD, including session's moves, WJL down 2.3%