The Melbourne-based company cut operating losses for the calendar year 2022 to £14 million, down from a deficit of £33 million in 2021.
Intrepid said the 2022 loss had occurred in the first half of the year when Omicron affected travel. “Intrepid went on to generate a profit in the second half of the year and the business now has a goal to achieve a pre-tax profit of above pre-pandemic levels in 2023,” it said in its annual report.
It added: “This reflects the resilience of Intrepid’s business model, the rapid recovery in the global travel industry and the growing global demand for sustainable and experiential travel.”
Intrepid saw a record sales day on 3 December, taking £3.3 million in bookings.
Intrepid Travel chief executive James Thornton said: “This report marks Intrepid’s transition from survival to revival mode. I’m incredibly proud that we’ve continued to invest in the business and as a result, have emerged as a thriving, transformed company.
“There were so many highs last year, including experiencing the best booking days in our history during November and December 2022. This was almost inconceivable at the start of the year and it’s truly remarkable how our business recovered through the support of our industry partners and customers.”
The operator plans to increase the number of staff shareholders from 52 in 2022 to more than 500 in the second half of 2023. Eligible staff will be paid 2022 bonuses via shares in countries where this is possible.
Thornton, along with Intrepid chair Darrell Wade, also reflected on the roughly 1,000 days since they got together around Thornton’s kitchen table and took the decision to suspend operations for the first time in Intrepid’s 30-year history.
