North West holiday business On the Beach saw half-year losses grow to £34.1m after bookings were hit by the Covid-19 lockdown.
The Manchester-based package holiday firm said the move comes after taking a £34.7m hit from the coronavirus crisis, PA reports.
It said bookings since the first half were also knocked hard as the Covid-19 lockdown forced holidaymakers to cancel trips - plummeting to just 10% of normal levels in April.
The losses for the six months to March 31 compare with a profit of £11.9m a year earlier.
Join the #IAmOpen community and give your business a boost
Access to lots of FREE tools to help stabilise your business and start making up for lost time is just one newsletter sign up away. As part of our #IAmOpen community to help and support small businesses owners like you, you will get a regular newsletter from our journalists plus we'll let you know how you can:
- get exclusive access to business webinars
- have a single-page website landing page made
- montage video created
- book an online marketing heath check report and
- bag discounted advertising rates just made for our mates.
What’s more, it’s all FREE. It’s very least we can do to back you, support you and just say THANK YOU.
But the group said it had seen a "significant" surge in demand since mid-June for holidays this summer as lockdown restrictions begin to ease.
Simon Cooper, chief executive of On the Beach, said: "The onset of the Covid-19 pandemic led to a rapid slowdown in demand for foreign travel, followed by the total closure of airspace across Europe by mid-March.
"Our staff responded brilliantly to ensure that the group delivered the highest possible customer service standards in the most difficult of circumstances."
Most Read
In April, Mr Cooper said he would give up his entire salary for the rest of the year in a bid to help his firm through the crisis, with the board voluntarily agreeing to a 20% cut in salary and fees.
Shares in the group fell 2.4% in early trade on Tuesday.