APT Travel Group restructures, with departure of Debra Fox.
Australian Pacific Holdings (APH) has just announced a new structure “with a focus on ensuring the ongoing sustainability and success of their well known travel brands”.
A new management team will be formed, reporting to David Cox in the new role of CEO of APT Travel Group (ATG), overseeing brands including APT, Travelmarvel, Captain’s Choice, Botanica and TravelGlo.
A number of Chief roles within the business have been removed, which will see the departure of Chief Commercial Officer Debra Fox next month.
Chris Hall remains as Managing Director of APH, the parent company of ATG. He hailed Fox’s long-time role within the business, saying “Deb is to be recognised, not only for her significant contribution as a senior leader within ATG but also as a female leader in the travel industry”.
Helloworld announces $50 million capital raising.
Helloworld Travel Limited has just launched a $50 million fully underwritten equity raising, to strengthen its balance sheet and “provide liquidity to help manage the prolonged period of disruption to the global travel industry”.
The company is forecasting that travel restrictions in place are expected to persist through 2020 and into 2021, and once the money is raised it will have sufficient liquidity for operating and capital expenditure through to the end of 2022.
Helloworld has undertaken a range of cost savings initiatives including the closure of its offices in Manila and Mumbai, and the divestment of its US wholesale operation.
The company said it was assisting members of its networks across Australia and New Zealand to “manage their way through this challenging period”. However so far about 5% of franchisees have elected to close, Helloworld added.
More details in today’s issues of Travel Daily and Cruise Weekly.