Lindblad Expeditions Holdings has announced that it has received a $USD21 million grant under the US Coronavirus Economic Relief for Transportation Services on August 24.
The grant represents approximately 80% of the company’s total expected final award amount, according to a SEC filing.
The CERTS Act provides grants to eligible motorcoach companies, school bus companies, passenger vessel companies, and pilotage companies that have experienced annual revenue losses of 25 percent or more as result of COVID-19.
The priority use of grant funds must be for payroll costs, though grants may be used for operating expenses and the repayment of debt accrued to maintain payroll.
The company said it anticipates using the granted funds primarily for payroll costs and ship operating expenses.
A report by John Alwyn-Jones, Cruiae Editor Global Travel Media and Global Cruise News.
