On The Beach Group has said it is well-positioned for "further significant disruption" after issuing a trading update for the 12 months to 30 September 2020, ahead of its preliminary results on 10 December.
As a result of the travel restrictions in place and low levels of consumer confidence, the group experienced a "varied" trading performance through Q3 and Q4, with booking volumes down 75% and 53% respectively year-on-year.
It said due to "strong cost control" adjusted profit before tax for the year is at breakeven levels.
Cancellation rates have been in excess of 90% across summer 2020 and the group expects it to continue at these levels over the winter. This has led to further exceptional costs of £10 million in H2, which the group now expects to be £45 million for the full year.
The group said it "continues to work hard to refund all customers in cash and in full" where their holidays are cancelled.
OTB has continued to promptly refund the hotel and transfer elements of cancelled holidays from its fully ring-fenced customer trust account.
There have been and continue to be substantial delays in receiving refunds from airlines, it added. "The group continues to pursue these rightful refund claims on behalf of its customers."
As of 6 November, total customer refunds made in cash since 15 March totalled £160 million (£70 million hotels and transfers and £90m for flights).
Monies received from airlines for cancelled flights was £79 million.
"We are awaiting refunds for cancelled flights of £11 million, where we have refunded flight costs in advance of receipt, in order to protect the brand and generate customer goodwill," the group said.