Corporate travel CTD announced excellent results today. SP went up 15% HLO has a fair amount of corporate travel and judging by its statement within its share placement offer it should do well when it announces it results soon.
FROM THE OUTLOOK PART OF THE SHARE PLACEMENT Trading update and outlook Bookings expected to remain at ~10-12% of previous levels until September 2020 and are then expected to progressively increase as State borders and the potential trans-Tasman bubble open. Our diversified business includes a mix of domestic and international leisure travel, corporate travel and wholesale travel. This means we are well placed to benefit from a recovery. We are seeing an increase in domestic air and land bookings, aligned to planned capacity increases by the domestic carriers (notably Qantas who have indicated plans to ramp-up domestic capacity to 40% of pre COVID-19 levels during July 2020). HLO’s corporate business comprises 70% domestic TTV and is increasing week by week as borders open up.
HLO Price at posting:
$1.87 Sentiment: Buy Disclosure: Held
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