Unlimited Travel Group was pressured by cancellations and trip cancellations during the second quarter in the wake of the COVID-19 outbreak. In addition, the Package Travel Act was triggered, which means that the company is required to refund trips for customers with canceled trips within two weeks.
This is evident from the interim report.
”"Bookings for 2021 are even stronger than they were for 2020 at the same time, of course partly due to the fact that we have managed to move loyal customers' already booked trips to the future," writes Jens P. Stenseth in the CEO's statement in the report.
The profit after tax deteriorated to SEK -7.3 million in the quarter (-1.5).
Turnover fell to SEK 12.6 million (147).
Cash flow from operating activities was SEK -18.8 million (-1.9) with cash and cash equivalents of SEK 16.9 million (39.6) at the end of the reporting period.
On August 26, the company presented a rights issue of SEK 10.2 million.
Source: Direct News Agency
