Jayride reports $6.9m full-year loss, but enjoys slight revenue growth

Airport taxi. Passenger is waiting for taxi car.

Jayride has posted a $6.9 million loss for the last financial year, but it wasn’t all bad news for the ASX-listed company.

Despite revenue from net commissions and fees booked dropping by 1.3 per cent to $3.2 million in the 12 months to 30 June 2020, total revenue for the airport transfer platform rose by one per cent to $3.9 million.

And if it wasn’t for a revenue decline of 39 per cent in the second half of FY20 due to COVID-19, you’d assume Jayride’s full-year revenue growth would’ve have been in the double digits.

The company had $1 million in cash at 30 June, and it expects to receive $1.2 million worth of grants in the first half of FY21, including a research and development tax incentive of $620,000 this month.

Assuming the commercial aviation sector recovers in line with the International Air Transport Association’s forecast, Jayride is anticipating market access to approximately 6.1 billion trips in 2021, which would be a 75 per cent recovery compared to 2019.


Featured image source: iStock/Chalabala

Latest News

  • Cruise

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. […]

  • Aviation
  • Destinations

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 […]

  • Destinations

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 […]

  • Travel Agents

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 […]

  • Cruise

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 […]

  • Destinations

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 […]