Helloworld looking to retain several cost saving initiatives when pre-COVID demand returns

17 July, 2020

Helloworld Travel Limited implemented (16-Jul-2020) material cost savings initiatives, which have reduced monthly costs from approximately AUD22.9 million (USD16 million) per month pre-coronavirus to around AUD4 million (USD2.8 million) per month, including Australia's JobKeeper scheme and New Zealand wage subsidy benefits. Helloworld continues to generate income of about AUD2 million (USD1.4 million) per month, mainly from transaction fees and commissions, partially offsetting the cost run rate. Several cost saving initiatives are expected to be retained when travel volumes return to pre-coronavirus levels. [more - original PR]