Lindblad Expeditions Raises Guidance Following Acquisition of Antarctic Travel, Aviation Businesses

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Lindblad Expeditions Holdings has bumped up its full-year guidance to factor in its acquisition of an Antarctic travel company and an aviation travel brand.

The adventure travel company said Tuesday it now forecasts tour revenues of $850 million to $880 million for the year, up from $830 million to $860 million previously. Lindblad now expects adjusted earnings before interest, taxes, depreciation and amortization of $140 million to $148 million, up from a prior range of $130 million to $140 million.

The updated guidance factors in Lindblad's acquisition of a majority stake of 60% in White Desert, a company that flies clients into the remote interior of Antarctica, and Echo Charlie, a new offering of flight itineraries to remote airstrips.

Lindblad acquired the businesses for an aggregate cash purchase price of about $61 million, plus about $6 million for cash on the balance sheet and subject to customary true-up adjustments. The deal marks Lindblad's largest transaction to date, the company said.

White Desert's Chairman Patrick Woodhead will continue in his role and be chief executive of Echo Charlie, while also joining Lindblad as strategic innovation adviser.

White Desert and Echo Charlie will continue to operate as a standalone offering, Lindblad said.

 
 

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