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Webjet signs with Chinese travel partner

AAP logoAAP 23/11/2016

Webjet has formed a partnership with the largest travel aggregator in China, Dida Travel Technology.

FIT Ruums, Webjet's recently launched Asia business-to-business online accommodation subsidiary, has an exclusive strategic alliance with Dida.

The partnership includes content sharing for at least 13,000 properties and collaboration on market information, technology and business development.

Shares in Webjet have rallied on the news, which came after the close of market on Tuesday and ahead of Webjet's annual general meeting on Wednesday.

The stock was up 85 cents - a near-nine per cent gain - to $10.40 at 1522 AEDT.

CMC Markets chief market analyst Ric Spooner said the new partnership was a major bonus for Webjet.

"It's a positive move to partner with an established player in China - it is a significant growth initiative," he said.

Dida was established in Shenzhen, China, in 2012 and in 2015 became the first aggregator service to become publicly listed

Webjet expects its 2017 first-half net profit to be up more than 75 per cent on last year and that it will achieve is guidance for a $78 million full-year profit.

Managing director John Guscic said Webjet's bookings growth continued to outperform the market "by more than four times (with) strong growth coming through both domestic and international bookings".

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