Helloworld Travel has released its annual report for 2020, which contains some important updates on changes to the company’s leadership team.
According to the report, which was shared on the Australian Securities Exchange this morning, Helloworld’s group general manager of retail and commercial, John Constable, has ceased his role at the company since relocating to the UK in July.
Furthermore, Simon McKearney, executive general manager of Helloworld New Zealand operations, tendered his resignation in July and left the company last month.
After an embarrassing “technical oversight” in Helloworld’s unaudited results saw the company’s shares suspended on the ASX and then reinstated, there were “no material adjustments” to the audited results included in the annual report.
However, since lodging the unaudited results, Helloworld has decided to prepay $20 million of borrowings in the second half of October 2020, which can be redrawn if required with the lender’s consent.
The company expects this to reduce its annual interest cost by $420,000 per annum.
Helloworld said it will provide a trading update for the first quarter of FY21 before the end of the month.
Feastured image source: iStock/kokouu