Although welcoming a three percent jump in underlying revenue for the first six months of 2011, Jetset Travelworld Limited (JTL) chairman Tom Dery said the economic outlook for 2012 remains “uncertain”.

In the company’s first Annual Report since its merger with Stella Travel Services (STS), the JTL/STS head explained that while domestic and outbound will pick up over the next 12 months, inbound is predicted to “weaken further”.

Despite welcoming a 26 percent jump in earning before interest, tax, share-based payments, depreciation and amortization to $54.9 million for the fiscal year 2011, Mr Dery said travel down under has taken a hit from disasters and the strong dollar.

“Inbound travel to Australia has been affected by the strong Australian dollar, the effect of natural disasters in the region and the intense competitiveness of the global tourism market,” Mr Dery noted.

The chairman added that despite “fluctuations” in the uncontrollable environment, the company has forecasted a five percent rise for outbound and domestic over the next twelve months compared to the last corresponding period.

He explained that JTL/STS is expecting to see “full benefits” from the Merger, which officially completed on 30 September 2010.

“This forecast growth coupled with the full benefits of the Merger related cost synergies results in Jetset Travelworld being strategically well positions for future growth and improved financial performance,” Mr Dery added.

Chief executive Peter Lacaze concurred with the chairman, stating that the company is working towards ensuring the benefits of the union is recognized over the next fiscal year.