LINDBLAD Expeditions believes it is in the box seat to resume operations securely and successfully once travel restrictions are lifted. President and Chief Executive Officer Sven-Olof Lindblad gave the upbeat assessment as part of a financial update, which showed tour revenues declining 9% to US$81.2 million for the three months...
LINDBLAD Expeditions believes it is in the box seat to resume operations securely and successfully once travel restrictions are lifted.
President and Chief Executive Officer Sven-Olof Lindblad gave the upbeat assessment as part of a financial update, which showed tour revenues declining 9% to US$81.2 million for the three months to 31 Mar.
“The smaller size of our ships, our advanced cleaning systems and robust operating protocols, along with the remote geographies we visit, and the profile of our guests ideally situates us to be able to resume operations safely and effectively,” Lindblad said.
Highlights of the quarter included the delivery of National Geographic Endurance (CW 21 Apr), with Lindblad lamenting that the COVID-19 pandemic had interrupted a strong start to the year for the cruise line.
“Given the uncertainty that the virus has created around the timing and impact on future operations, we are taking all necessary steps to enhance our liquidity, while preparing further protocols, including testing, to put in place for when we can safely resume operations.”
The company has US$137 million of cash reserves on hand, with cash burn expected to be approximately US$10-15 million per month.
