Intrepid Travel secures $30 million federal government loan

Intrepid Travel secures $30 million federal government loan

Intrepid Travel has been selected by Export Finance Australia for a $30 million finance facility to help accelerate the adventure travel company’s post-pandemic growth plans.

The facility came after the federal government recognised Intrepid’s unique ability to assist the travel industry in its growth post-pandemic.

The funding will support 169 Australian-based jobs and create a further 24 new positions for Australians.

In addition, the facility will help to generate $45 million in domestic activity along with overseas export sales of $170 million, which will be brought back to the Australian economy in the next two years.

Despite the ongoing closure of international borders, the facility is set to also help Intrepid accelerate their 2025 strategy as they aim to become the world’s first purpose-led $1 billion adventure travel company.

Intrepid will focus on four core areas to position the business for growth post-pandemic: digital transformation, product innovation, market expansion and purpose initiatives.

James Thornton (pictured above), CEO of Intrepid, said: “This is a fantastic endorsement of not only Intrepid Travel, but of the strength and resilience of the Australian travel sector.

“Despite the enormous ongoing challenges, we know international tourism will bounce back strongly when borders can reopen safely. This helps us, as well as our stakeholders and partners, prepare for the future.

“This financing will help us to accelerate our strategy in four core business areas, including digital transformation and more purpose initiatives, as we aim to become the best travel company for the world.”

The funding comes after Intrepid laid bare the challenges the company faced as a result of the global COVID-19 pandemic in its 2020 annual report, including refunding more than $21 million to customers and cut its workforce by almost half over three rounds of redundancies.

Latest News

  • Destinations
  • News

APT Launches 2025 Asia Adventures

APT has launched its Asia Adventures for 2025, including new luxury holidays in India, Sri Lanka and Japan. Five new tours lead guests to the highlights of India, including a seven-night cruise along the rarely travelled Lower Ganges aboard the Ganges Voyager. Further south, Sri Lanka’s greatest destinations are revealed on a new 15-day Land […]

  • Cruise
  • Luxury
  • News

Seabourn announces Western Kimberley Traditional Owners as Godparents of Seabourn Pursuit

Seabourn has named Western Kimberley Traditional Owners, the Wunambal Gaambera, as Godparents of the ultra-luxury purpose-built Seabourn Pursuit. It is the first cruise line to appoint Traditional Owners as godparents of a ship. Seabourn Pursuit embarks on its inaugural season in the Kimberley region this June. The naming ceremony will take place on Seabourn Pursuit’s […]

  • Luxury

Malolo Island Resort opens brand new Spa

Fiji’s Malolo Island has added another string to its bow – opening its $1.3 million day spa on Thursday, 18th April 2024. (Lead Image: matriarch Rosie Whitton with spa staff) Located at the edge of the resort’s luscious patch of tropical rainforest, the new “Leilani’s Spa” adds another level of elevated experiences to Malolo’s already […]