Addressing the Advantage conference in Madeira on Saturday (30 April), Lo Bue-Said said 80% of members had reported new-to-agent business during the pandemic, or the emergence from it.

Meanwhile, in a recent member census, 95% of Advantage members said they felt optimistic about the post-Covid future. However, they also signalled "significant challenges" still lay ahead, a point emphasised by Lo Bue-Said during her opening address.

Advantage has witnessed a strong recovery in European sales, said Lo Bue-Said, while transatlantic demand is even more advanced with US bookings "reaching 2019 transaction levels". The consortium has also reported May half-term sales "nearing pre-pandemic levels".

"Trading tells only one side of the story," said Lo Bue-Said. "Since January, demand has soared, with many members experiencing sales comparable to pre-pandemic trading, but you need to look under the skin to truly comprehend the lasting impact to the sector.

"Balance sheets have been decimated, there is increased business debt from maximising grants and CIBLS [Coronavirus Business Interruption Loan Scheme] loans, and VAT deferrals which now need servicing."

Lo Bue-Said warned further headwinds lay ahead, notably the cost-of-living crisis, war in Ukraine, cash-flow challenges, merchant service fees, bonding values and the need to rebuild the travel industry with sustainability at its core.

"We’ve also seen the industry infrastructure buckle under the strain of the recent travel surge through a combination of labour shortages, high Covid infection rates among staff, complex in-destination restrictions, flight changes, slow approval mechanisms for roles requiring security clearance and again, this week, [the] passport shambles."

Lo Bue-Said, though, attributed the increase in new-to-agent business to the Covid-era complexities of booking travel, albeit while warning these bookings were putting more strain on agents.

"Every booking is more complex with, on average, a human touch by a consultant needed at least three times during the transaction process, and we’re seeing this for all types of travellers both in business and leisure," she said.

The Advantage chief executive added it was vital to remember it was only six weeks ago all remaining UK government Covid travel restrictions were lifted, and that the industry was still only at the very start of a tentative recovery and re-emergence.

"The first sector to feel the impact of the pandemic remains one of the only industries still facing considerable challenges," she said.