Flight Centre founders (bar Skroo) sell down

Meanwhile, James’ James Management Services started selling in January and has since offloaded 1.1 million shares for $18.3 million (or $16.53 on average).

In FY19, Harris took home $36.5 million in Flight Centre dividends, while James was paid $32.9 million. A few months later, Harris sent back $10 million while James paid half that into the aforementioned capital raise. And they haven’t seen a dividend cheque since.

With the pandemic receding and air travel rebounding (though Flight Centre’s share price is still half what it was pre-pandemic), suppose the duo figured now was a decent time to resume making bank.

And given they paid only $7.20 a pop in the capital raise compared to the $18.85 share price today, we’re sure they only wish they had more cash on hand two years ago.