CRUISE bookings are surging for Lindblad Expeditions despite the cruise line’s ongoing pause. The company’s Chief Financial Officer Craig Felenstein delivered the good news on Lindblad’s second quarter earnings call, saying bookings for 2021 were trending 6% ahead of 2020 at the same point last year. “The demand for future...
CRUISE bookings are surging for Lindblad Expeditions despite the cruise line’s ongoing pause.
The company’s Chief Financial Officer Craig Felenstein delivered the good news on Lindblad’s second quarter earnings call, saying bookings for 2021 were trending 6% ahead of 2020 at the same point last year.
“The demand for future expedition travel remains very strong and we are well-positioned for 2021 and beyond,” he said.
“A portion of that growth is certainly from guests on cancelled voyages that have opted to reschedule, but we have also generated over US$30 million in bookings since 01 Mar from guests not utilising future travel credits.”
Lindblad has implemented significant cost reduction measures, such as lowering its expected annual maintenance capital expenditures by over US$10 million to further increase its liquidity profile.
The cruise line said cash usage is approximately US$10-15 million monthly excluding the impact of guest payments and refunds.
Other operating expense reductions include reducing general and administrative expenses through employee furloughs, payroll reductions, the elimination of all non-essential travel, office expenses & discretionary spending and suspending the majority of planned advertising & marketing spend.
Pictured: National Geographic Endeavour.
