POUND NOTES
HUGE LOSSES FOR TRAVEL FIRM
PACKAGE holiday firm On the Beach has swung to a half-year loss after cancelled trips due to the coronavirus lockdown left it nursing a £35m million hit.
The group said it slumped to a statutory pre-tax loss of £34.1m against profits of £11.9m a year earlier after revenues crashed by two-thirds in the six months to March 31. On an underlying basis, pre-tax profits tumbled to £2.3m from £15.7m a year ago.
On the Beach said before the crisis struck it had had a boost from the demise of rival Thomas Cook, with summer bookings jumping 29%. But as the pandemic grounded planes from late March, it saw bookings dry up and a swathe of cancellations.
It said since the first half, bookings in April were around only 10% of normal levels.
But the group said it had seen a “significant” surge in demand since mid-June for holidays this summer as lockdown eases.
ALWAYS INSURE HOLIDAYS AT HOME
MORE than half of us don’t insure holidays we take in Britain, a poll reveals. Just a tenth of people quizzed by MoneySuperMarket said they always take out a policy for a staycation.
With many of us planning summer holidays in the UK this year, it would be wise to make sure we have some cover.
Those without could be at risk of losing money in the event of delayed or cancelled transport or accommodation, baggage loss, loss of cash, or any damage to personal possessions away from their home.
Helen Chambers, head of travel insurance at MoneySuperMarket, said: “Many are once again looking forward to holidays now that hotels have been given the green light to re-open from July 4.
“When planning a getaway in the UK, it’s easy to overlook the need for travel insurance.”