Webjet Limited outlined (17-Feb-2021) the following Group highlights for H1FY2021:
- Webjet OTA returns to profitability as domestic leisure markets start to reopen;
- WebBeds sees improved performance but continues to be impacted by lockdowns and travel restrictions. Its transformation strategy delivering step change to cost base resulting in at least 20% efficiency improvements when at scale;
- Strong capital position, with a monthly cash burn down to AUD4.8 million (USD3.7 million) and a closing cash balance of AUD283 million (USD219.3 million). B2B debtor risk mitigated and bank waivers extended from 30-Jun-2021 to 31-Mar-2022;
- Well placed to capture demand when travel markets return, with global footprint remaining intact, and a diverse customer base providing broad exposure to travel.