March 11, 2020 / 1:26 AM / a month ago

BRIEF-Helloworld Travel Update On Coronavirus Impacts

March 11 (Reuters) - Helloworld Travel Ltd:

* HELLOWORLD TRAVEL UPDATE ON CORONAVIRUS IMPACTS

* HELLOWORLD’S CHAIRMAN & NON-EXECUTIVE DIRECTORS WILL TAKE NO FEES FOR REMAINDER OF FINANCIAL YEAR

* HELLOWORLD’S CEO & MANAGING DIRECTOR WILL TAKE A 30 PER CENT SALARY CUT FOR REMAINDER OF FINANCIAL YEAR

* HELLOWORLD’S EXECUTIVE MANAGEMENT TEAM WILL TAKE 25 PER CENT SALARY CUT FOR REMAINDER OF FINANCIAL YEAR

* ALL NON-ESSENTIAL RECRUITMENT HAS BEEN HALTED

* HAVE SEEN AN INCREASE IN DEMAND FOR DOMESTIC LEISURE TRAVEL

* HELLOWORLD EMPLOYEES ARE BEING ASKED TO TAKE PAID OR UNPAID LEAVE

* ALL DISCRETIONARY EXPENDITURES ARE BEING REDUCED OR ELIMINATED

* ANTICIPATE LOWER DEMAND TO CONTINUE IN TO Q1 AND POSSIBLY Q2 FY21

* RE-CONFIRMATION OF EBITDA GUIDANCE FOR FULL YEAR, ALBEIT AT LOWER END Source text for Eikon: Further company coverage:

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