Datalex Anticipates COVID-19 Will Significantly Impact Its Revenues
Dublin-based travel software company Datalex has announced that it is introducing a redundancy programme and temporarily reducing working hours for all of its staff members to attempt to lessen the financial impact of the COVID-19 crisis.
In a trading update issued on Thursday April 2, Datalex stated that it anticipates that the COVID-19 crisis will have a "significant impact" on its revenues this year.
The company said that, at present, it is "difficult" to accurately quantify the likely affect that the crisis will have on its financial and trading performances, and that COVID-19-related travel restrictions are having "a significant and negative impact on [its] airline customers", as reported by The Irish Independent.
Datalex's primary platform helps its customers, the majority of which are airlines, to increase sales of ancillary items.
Balance Sheet Protection Measures
Datalex is re-negotiating business partner arrangements, eliminating discretionary spending and implementing a recruitment freeze in a bid to protect its balance sheet.
The company stated, "The board believes that these actions, together with the support of our customers and ongoing flexibility from our business partners, mean that the group is well-positioned to withstand the impact of COVID-19 and to look to the future following the pandemic with confidence."
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