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Markets News

On The Beach warns of hit to capacity from new travel ban

Nov 9 (Reuters) - Holiday package provider On The Beach on Monday warned of a hit to seat capacity due to England’s four-week ban on international leisure travel, and said annual adjusted pretax profit is at break-even levels.

The online travel agent said cancellation rates have been over 90% across summer, well above the company’s earlier assumption, and are expected to continue at these levels over the winter. (Reporting by Tanishaa Nadkar in Bengaluru; Editing by Ramakrishnan M.)

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