FlyerTalk Forums - View Single Post - FlightHub / JustFly files for creditor protection
Old May 14, 2020 | 4:14 pm
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tcook052
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I saw it on CBC and know firsthand the financial devastation C-19 has caused the travel industry:

Canadian travel firm FlightHub seeks creditor protection
In court filings, the company says it turned a profit in each of the past three years, until the COVID-19 pandemic, which it described as "catastrophic" to its business. Travel restrictions have caused revenues to plummet by more than 90 per cent in just two months, and the company lost $8 million in the first quarter of 2020.

The losses show no sign of dissipating, either.

"In addition to the significant reduction in revenues from new reservations, many of the previous reservations made by customers prior to the COVID-19 outbreak have been cancelled, leading to a significant loss in previously recorded revenues," FlightHub said.

Last edited by tcook052; May 14, 2020 at 5:56 pm
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