Webjet reported the 1Q21 liquidity position at their recent AGM:
> $320 million in cash and cash equivalents as at 30 June 2020. > $27 million cash burn for quarter. > $293 million in cash and cash equivalents as at 30 September 2020.
However, WebBeds and Webjet OTA delivered positive working capital of $13 million and $3 million respectively, with Online Republic delivering negative working capital of $7 million.
Thus, when including working capital, the following:
> Cash position of $302 million on 30 September 2020. > $6 million monthly cash burn.
And this is before domestic travel recommenced (in Australia).
WEB Price at posting:
$5.25 Sentiment: Hold Disclosure: Held
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