“Travel experiences will be even more treasured”: Helloworld CEO eyes post-COVID future after $70m loss
Helloworld Travel CEO Andrew Burnes says the company will be sticking around “for the next 60 years and beyond” despite suffering a $70 million loss during the last financial year.
The full-year, COVID-induced loss included non-cash impairment charges of $67.1 million, and is a fair swing away from the $38 million profit Helloworld enjoyed in FY19.
Underlying earnings before interest, taxes, depreciation and amortisation declined by 40.1 per cent to $44 million, while revenue fell 21.1 per cent to $282.2 million, and total transaction value (TTV) dropped by 23.1 per cent to a touch over $5 billion.
Over the last three months, Helloworld said its corporate business in Australia and New Zealand has shown signs of recovery, generating 30 per cent of TTV from previous years’ volumes in July 2020. The company expects this to increase from October as state borders open again.
“This, together with other call-centre-related activity, has provided the company with some revenue generation during the COVID-19 period so far,” Helloworld said in its full-year results announcement.
“Within leisure operations, revenue generation has generally been much slower, although we are seeing some revenues from intrastate travel, particularly in WA, Queensland and New South Wales and, for a short period, interstate travel, particularly when the Queensland border was open.”
Helloworld’s Fiji operations remain in hibernation and closed, and the company completed the sale of its US wholesale business on 30 June 2020.
At the end of FY20, Helloworld had a cash balance of $131.9 million, increasing to a cash balance of $174.8 million at 28 August 2020 following the settlement of its successful $50 million equity raise.
The company said it will continue to receive further subsidies for retained employees in Australia via the JobKeeper program, which has been extended to March 2021.
At current staffing levels, Helloworld expects to receive a net benefit of around $20 million in additional subsidies for retained employees between 1 July and 31 March 2021 under current JobKeeper allowances.
Having already processed 90 per cent of outstanding refunds, and with 60 per cent now received and paid out, Helloworld said it would continue work through the billions of dollars of refunds and credits due to customers for pre-booked, pre-paid travel arrangements.
Commenting on the full-year results, Helloworld CEO Andrew Burnes said: “This has been the most challenging period in our company’s history and we are working, like every other business around the world, to manage the responses to this crisis so we can be there when the world starts to emerge from COVID-19 and starts travelling again.
“I believe that travel experiences will be even more treasured when this has ended. People will not hesitate to go and see and do the things they have always wanted to do in the newfound knowledge that circumstances can change very rapidly.
“We are confident that when they can travel, our customers will need the help of their travel professional more than ever.
“We’ve been providing professional travel services to our customers for over 60 years, and we will be there on the other side of this for our customers for the next 60 years and beyond.”
Email the Travel Weekly team at traveldesk@travelweekly.com.au
Andrew Burnes helloworld helloworld travel travel agentsLatest News
Flight Centre’s Big Red Sale starts today
Flight Centre’s biggest sale has just landed giving Aussies the chance to lock in more affordable holidays close to home and overseas with saving of up to 50 per cent. The Big Red Sale starts today, 9 May, and runs until 5 June 2024. Flight Centre Global Managing Director Andrew Stark said that after the […]
Aurora Expeditions announces savings for solo travellers
Aurora Expeditions has today announced savings for solo travellers thinking of going north for the summer. Adventurous solo travellers can take advantage of no solo supplements, enjoying a guaranteed private cabin on select departures during Aurora’s Arctic 2024 season with plenty of options available on unforgettable voyages visiting Greenland, Svalbard, Northwest Passage, Iceland and more. […]
Etihad and Tourism officials launch free Abu Dhabi Stopover
Etihad Airways and the UAE’s Department of Culture and Tourism – Abu Dhabi have announced the launch of Abu Dhabi Stopover which invites guests flying through to turn their stopover into a free hotel stay and holiday. The Abu Dhabi Stopover, exclusive to Etihad Airways, will enable passengers to enjoy a convenient free stay in […]
New MSC Australia boss talks hot topics for local cruisers, including the Caribbean
New MSC Australia boss, Antonio Paradiso, spills the Caribbeans on where he expects Aussie cruisers will go next.
Contiki’s latest campaign inspires travellers to engage with the world around them
Hands off! Influencers invited on holiday and told not to post anything. We can assure you they're back at it now.
Aussies a hit on the conference floor for IPW 2024
Diana Ross on opening night, Keanu's Dogstar band and a dozen lobster rolls. All in a week's work at IPW 2024.
Disney excited about prospects of cruise business as Disney Treasure nears completion
Disney's booming cruising business is set to knock Disneyland experiences out of the park.
Scoot’s first E190-E2 flights take off between Krabi and Hat Yai
When flying's a pitch. Airline lite Scoot offers a standard seat pitch of 29” on its new 112-seater.
Premium hotel operator ERDI launches it’s own academy in heart of Melbourne
ERDI expects to be shaken not stirred with the launch of its ERDI Academy in its Melbourne hotels.
Tropical North Queensland action-packed events calendar for adventure enthusiasts
Sporting enthusiasts and adventure seekers are gearing up for an action-packed year in Tropical North Queensland, with a lineup of sports events and adrenaline-pumping experiences set to take centre stage in 2024. Leading the charge is the highly-anticipated return of the Crankworx World Tour ‘Paradise Edition’ to Cairns from 22-26 May 2024. The mountain biking […]
Singapore Airlines Group first to receive SAF from Neste as AU/NZ play catchup
Singapore leaving many in their green dust. Here in Australia, we're hoping for a tortoise and the hare type outcome
Qantas Red Tail sale discounts more than 200,000 fares
Qantas marketers forever thankful to the team who chose the red and white colours. How else would they name a sale!
Bannisters by the Sea unveils retreat style package for new mothers
Three hours in the car with a newborn from Sydney might be tough, but trust us, it'll be worth it when you arrive.
Nothing Bonza can do to prevent loss of planes, ACCC concerned by latest aviation developments
Going, going, gone. It seems...
APT offers destination incentives to enjoy the Best of Asia
Whether its a cocktail by the beach or a hike through the mountains, APT has you covered. You'll find us at the beach!
Disney Days returns with Inside Out 2 showing in Sydney, Brisbane, Melbourne and Auckland
Time is running out for agents to register their Expression of Interest to an exclusive screening of the much-anticipated Disney and Pixar film, Inside Out 2, hosted by Disney Destinations Australia/New Zealand team and partner United Airlines. Places are limited and applications must be in by 17 May. In addition to the screening of the […]
Get ready to roll the marketing dice with Susan Coghill: Travel DAZE EXEC 2024
It's heating up in Cairns and we're not talking about the weather! Get ready for a marketing masterclass with Susan.
Aranui Cruises slashes prices with No Single Supplement and Half Price offers
French Polynesian cargo cruise line Aranui Cruises is slashing thousands off its 2025 Austral and Marquesas Islands cruises with an autumn sale offering 50 per cent off the second guest in a twin share room and no single supplement for solo travellers. On sale until June 21, 2024, Aranui’s 12-day roundtrip voyage from Papeete to […]
Cebu Pacific campaign aims to boost Aussie trips to the Philippines
Cebu Pacific's bouncy singalong ad campaign 'Fly to Happy, Fly to the Philippines’ aims to get more bums on seats.
Tauck’s new river and small ship ocean cruises, plus increased Seine capacity
Tauck adding itineraries like it's going out of fashion, which cruising certainly isn't.
Railbookers and La Dolce Vita Orient Express partner up for new luxury Italian itineraries
Fancy a luxurious trip through Italy? Who are we kidding, we know you do. Start your daydream here.
Luxury Travel Collection’s Nikki Glading spills all on member network perks: Travel Weekly TV
We urge you to enjoy this in true LTC style and lift a glass of bubbles with lunch today.
Auckland’s new domestic terminal comes with all the modern gadgets
We're not talking about drones or VR goggles, but these updates will change the game in Auckland.
Air New Zealand crew sign up for Sign Language Week
Have you signed up for Sign Language Week? Let this be your sign to do so!
Holland America Line gives one lucky winner the Ultimate Alaskan Cruise Experience
There's only one winner, so it's sort of like the Hunger Games of cruise prizes... but no one gets hurt.
TAG’s Byron Carr excited about K-Pop induced Asia expansion
Carr to go all Gangnam Style with TAG's Asian expansion
CATO celebrates 25 years with anniversary dinner
CATO's putting on a fancy spread to celebrate 25 years as other 25 year olds celebrate their HECS debt being cut.
Fiji Tourism Exchange 2024 opens with a vibrant ceremony at Sofitel Fiji Resort, Denarau
Two days in Fiji! If you didn't attend this conference we're sure you've got FOMO.
Raes on Wategos celebrates 30th birthday and guests get the presents
World famous luxury boutique hotel Raes on Wategos, in Byron Bay, has launched its 30th birthday celebrations with a Raes Indulgent Escape package. Available for all stays of two nights or more, from June to August, the curated package offers an invitation to indulge in a shared celebration of Raes 30th birthday, whilst revelling in […]
Seabourn’s two new value-add offers for 2024-25
Seabourn's doing a two for one deal. Kind of like a fast-food promo but its luxury cruising.
PONANT commercial team expands to meet growing demand in APAC
Can't remember that Ponant contact you met at a networking event? Good chance they're included in this update.
Gen Z and millennials on track for rise in Europe rail trips, says TruTravels
Despite what you think, Gen Z and Millennials are not 'off the rails', but instead want a fast track to Europe.
$230m joint Novotel & ibis Styles Melbourne Airport hotel prepares to open
Dear all business travellers, you're Melbourne experience just got a whole lot better.
Envoyage premieres Worldwide 2024 in Santiago
There has been a warm reception for 300 attendees at Envoyage's gabfest in Santiago, Chile.
Disney Destinations launches epic Aussie agent incentive
Everyone needs a bit of Disney in their life (apparently) and agents can get their next dose for free here.
IPW 2024: 960,000 Aussies took the trek to the Land of the Free last year
Nearly 6,000 travel industry reps descend on LA. Thankfully for all of their bosses, it's not in Vegas.