Helloworld leisure down 85%

HELLOWORLD Travel Limited today confirmed that its wholesale and retail divisions are reporting transaction volumes of around 10-15% on last year, while its corporate operations are sitting at about 35% of 2019 TTV.

The figures were revealed in the company’s Annual Report, along with confirmation that Executive GM Commercial and Retail, John Constable, is no longer with the business (TD breaking news).

The inbound division is also experiencing new booking volumes of approximately 20% compared to this time last year, even though it’s not accepting any bookings for travel prior to Jul 2021, the company said.

CEO Andrew Burnes highlighted the actions taken by HLO during the pandemic, including a strong focus on costs as well as refunds and credits.

Helloworld has also been looking at revenue opportunities, both within the business and from other sources, including obtaining alternative work from a number of agencies for various call centre services which had helped keep many staff working on a full-time basis.

Various recovery scenarios have been mapped out in terms of border openings, bubbles and vaccine availability “to ensure we have both the personnel and the right product available to sell in market once both domestic and then international travel becomes available,” he noted.

“Much work has gone into these future-facing efforts.”

He said after a “comprehensive recalibration” of the business over the last six months, it’s estimated that current cash holdings will see Helloworld through to 2023 under existing conditions.

The release also included the anticipated audited results for the year, and confirmed the repayment of $20 million in borrowings to help reduce annual interest costs by $420,000.

Helloworld said it would provide the market with a Q1 FY21 trading update before the end of the month.