Signs of recovery noted but COVID continues to bite.
Webjet has posted a Total Transaction Value (TTV) of $453 million for the nine months to 31 March 2021, well short of how the business was tracking last year when it recorded a full-year TTV of $3.02 billion for the 12 months to 30 June 2020.
MD John Guscic said that despite the ongoing impact of COVID on TTV, Webjet was focused on positioning itself for the anticipated rebound in the global travel market.
“While we wait for markets to open, we have not stood still…we have looked at ways to be more agile, lean and efficient across the entire business,” he said.
Revenue for the nine-month period was $38.5 million, while EBIDTA showed a loss of $125.3 million.
On a positive note, the company’s WebBeds business has started to show signs of improvement in regions like North America where travel is starting to reopen, but overall the division continues to struggle under the weight of global travel restrictions.
More details in today’s issue of Travel Daily.