Seatrade, a trading name of Informa Markets (UK) Limited. Lindblad is also offering travel advisors $1,000 per person booking all new bookings made within this time period. Lindblad’s management, however, seems willing to take steps to keep its cash coffers stocked without tapping capital markets. Destination & Tourism, COVID-19 October Travel Restrictions: Latest Quarantine Rules for US States The line is known as a leader in expeditions to Antarctica, the Arctic, the Galápagos and other remote, relatively undeveloped parts of the world. As the COVID-19 viral outbreak continues to impact travel around the world, cruise lines update their cancellation policies to accommodate their guests. Copyright © 2020. As of Feb. 18, Lindblad segment bookings for 2020 travel had increased 26% compared to bookings for 2019 at the same date a year ago.
Lines and paragraphs break automatically. Around that time, Lindblad’s cash needs will pick up as it prepares ships and itineraries, Craig Felenstein, the company’s chief financial officer, said on the earnings call. Its ships are small, carrying 48 to 148 passengers, so they should be relatively easy to clean. Lindblad stressed that the health and safety of passengers remain the cruise line’s top priority. “Even if we go into some kind of recessionary environment, their average customer is wealthy, so we don’t think you would see that much of an impact,” says Stifel’s Steven Wieczynski.
Of that, the Lindblad segment was responsible for $3.2, up from $2.9m, on higher tour revenues, lower drydock costs and a decline in value added tax expense, partially offset by higher operating costs for National Geographic Venture and increased marketing spend. The company, however, has an advantage in the type of travelers it attracts: They are loyal and relatively wealthy. For the full year 2019, net income was $13.7m, or 28 cents per share, up from f $11.4m, or 24 cents per diluted share, in 2018. Lindblad was working on the coating project long before the outbreak of coronavirus. No crew members or passengers were infected with the coronavirus during the initial outbreak, the company said. E=Estimate; NM=Not Meaningful; Data as of 5/28/20, Write to Alexandra Scaggs at [email protected]. Lindblad Expeditions Raises $85 Million to Improve... Up-Close and Authentic With Lindblad Expeditions. Lindblad Expeditions Holdings narrowed its fourth quarter loss on better operating results and a foreign currency gain and said recent bookings were up double-digits. Lindblad Expeditions Holdings may offer investors an alternative to the cynical view of cruise ships … For the best Barrons.com experience, please update to a modern browser. Number 8860726. The Lindblad seg… And rebooking trends show encouraging signs that its older customers aren’t being put off by the coronavirus risks. Lindblad stressed that the health and safety of passengers remain the cruise line’s top priority. The Coronavirus Disease 2019 (COVID-19) situation continues to evolve quickly and National Geographic Expeditions and its partners are closely … The project is part of an effort at the line to reduce its impact on the pristine environments its ships visit. Impacting Travel, 16 Popular Travel Destinations Open to Americans This Fall Eric Bowman, The Additional Cost of the Pandemic for the Aviation Industry The Lindblad segment has 86% of full year 2020 projected ticket revenue on the books versus 87% of full year 2019 ticket revenue at the same time last year. This was driven by growth of $3m in the Lindblad segment and $2.1m at Natural Habitat. March 11, 2020. Ride the Travel Rebound With 7 Less Risky Stocks. To order presentation-ready copies for distribution to your colleagues, clients or customers visit http://www.djreprints.com. Once Lindblad’s ships start sailing and global travel restrictions are lifted, its pandemic-related logistical challenges will probably be lighter than its peers’. Click here to learn more. Web page addresses and e-mail addresses turn into links automatically. Seatrade Cruise News is part of the Informa Markets Division of Informa PLC. Informa Markets, a trading division of Informa PLC. Here Are 3 That Can Benefit From a Pickup in Domestic Travel. Copyright ©2020 Dow Jones & Company, Inc. All Rights Reserved. Lindblad Expeditions adventure cruises go beyond limits and all expectations. Rich Thomaselli, 10 Caribbean Destinations Where Travelers Don’t Need to Quarantine This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Airline Stocks Still Have Far to Go. This is to allow advisors to determine how they would like to use, whether in the form of incremental commission, reduction in the price of the trip, to help in offsetting the cost of flights (or air change fees if they are helping a client rebook their travel), or some combination thereof. Hurtigruten, Escape to Jamaica for a Beach Villa Stay This Winter Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. The risk for shareholders will come as the line gets ready to restart operations. As they have with other cruise operators, customers have asked for refunds since Lindblad’s ships stopped sailing on March 13. But Extended Stay’s Stock Could Emerge a Winner. An error has occurred, please try again later. And executives sounded optimistic about the possibility of testing passengers for the virus before future cruises. Lindblad says it expects to burn through $10 million to $15 million a month while its cruises are shut down. Your Facebook information, including your name, photo & any other personal data you make public on Facebook will appear with your comment, and may be used on TravelPulse.com. We've detected you are on Internet Explorer. The $3.2m improvement reflected better operating results and a $1.3m foreign currency gain in the quarter compared to a $0.7m foreign currency loss in Q4 2018. Lindblad, he said, is looking at “strategies to further enhance [its] liquidity position,” including “pursuing additional financing from both the public and private markets through the issuance of equity or debt.”. The Excellence Collection, Bowman’s Travel Brief: Will the Travel Industry See Any Additional Relief? Why This Small, Elite Cruise Operator Could Weather the Coronavirus Storm. This copy is for your personal, non-commercial use only. Lindblad Expeditions Holdings may offer investors an alternative to the cynical view of cruise ships as “floating petri dishes. The company specializes in “adventure cruises” to Antarctica, the Amazon rainforest, and Patagonia, to name a few pricey destinations.
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https://www.seatrade-cruise.com/sites/all/themes/penton_subtheme_seatrade_cruise/images/logos/footer.png. Americans Are Getting Back on the Road. If an equity offering is in the cards, that would dilute the holdings of investors who buy today. Cruise Line & Cruise Ship, Lindblad Expeditions Returns $6.6 Million COVID-19... Coronavirus Has Hit the Hotel Industry Hard. We are looking to the CDC (Centers for Disease Control) and WHO (World Health Organization) to provide guidance. The share of customers asking for cash refunds has actually declined over time, executives said in a May 1 earnings call. “Our guests and travel partners show loyalty to us, we should reciprocate.”, Royal Caribbean Group Chairman Sees Smooth Sailing Ahead, AmaWaterways Weathers COVID Storm With Ship Upgrades, Renovations, American Cruise Lines' New Riverboats, Itineraries, Protocols for 2021, Atlas Ocean Voyages’ First Expedition Ship Floats Out, Norwegian Cruise Line Extends Suspension of Sailings. “We believe these should be valuable tools for you to communicate to travelers, as we have 100% taken the financial risk out of booking and provided a meaningful incentive.”, “You know your clients and their situation best, so we are putting the power in your hands.” Lindblad continued. Cruise Line & Cruise Ship. Impacting Travel, 10 Key Travel Advisories Announced In September 2020
But with some careful cash management, Lindblad (ticker: LIND) could come out of the shutdown stronger than the large cruise operators. Recently, the CEO of Lindblad Expeditions, Sven Lindblad, outlined the cruise line’s cancellation policies concerning the coronavirus. may offer investors an alternative to the cynical view of cruise ships as “floating petri dishes.”. Three more years for NCLH chief Frank Del Rio, COVID-19 prevention response explored on first day of Seatrade Cruise Virtual, Martinique recaps cruise investments, airport upgrades, new tours, Norwegian Cruise Line Holdings suspends sailings through November, Viking Cruises ties up with Wilhelmsen’s Smart Ropes system, Allowed HTML tags: . Registered in England and Wales. All rights reserved. https://www.barrons.com/articles/why-lindblad-expeditions-could-weather-the-coronavirus-storm-51590795084, Lindblad Expeditions Holdings The company had $137 million in cash as of March 31, including a $45 million revolving credit facility that it drew down in March. Net yield grew 1%, to $1,051, mainly on higher pricing and changes in itineraries, while occupancy was in line with a year ago at 91%. The Additional Cost of the Pandemic for the Aviation Industry, 10 Caribbean Destinations Where Travelers Don’t Need to Quarantine, COVID-19 October Travel Restrictions: Latest Quarantine Rules for US States, 10 Key Travel Advisories Announced In September 2020, 16 Popular Travel Destinations Open to Americans This Fall, COVID-19 Travel Protocols for 22 Caribbean Countries. Travel Restrictions Lindblad has implemented the following protocols for protecting against coronavirus: Passengers who have traveled from, visited or transited via airports in … Cruise Line & Cruise Ship
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