2020-05-01 07:36:08 LIND Lindblad Expeditions
05/01/20 05/0107:36 05/01/2007:36 | Lindblad Expeditions experiences 'substantial impact' from COVID-19The company was off to a strong start to the year with Lindblad segment bookings at the end of February up 25% for the full year 2020 as compared to the same point a year ago for 2019 and we had sold 88% of our original projected guest ticket revenues for the year. Since that point, the company has experienced a substantial impact from the COVID-19 virus including elevated cancellations and softness in near-term demand. Lindblad segment bookings for travel in 2020 are now 27% below the same point a year ago for 2019 due primarily to the cancelled and rescheduled voyages, as well as cancellations for travel later this year. The company does still have substantial advanced bookings for future travel in 2020, including 8% more bookings for the second half of 2020 as compared with the second half of 2019 as of the same date a year ago. Additionally, the Company continues to see new bookings for travel in 2020, 2021 and 2022, including over $15M since March 1, and we are receiving deposits and final payments for future travel. For 2020 voyages that have been cancelled or rescheduled, the company is offering future travel credits with incremental value or full refunds to its fully paid guests. As of April 24th, the majority of guests have opted for future travel credits. |
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