Jasons Travel in talks with banks as annual loss looms, breaches loan covenant

Sun, 24 Mar 2013

March 25 (BusinessDesk) - Jasons Travel Media, which announced the departures of its chief executive and a director in the past two months, is in talks with its banks after breaching lending covenants and forecasting an annual loss. The Auckland-based company is bracing for a pretax loss in the year ending March 31, which will breach its interest cover and debt to earnings before interest, tax, depreciation and amortisation covenants, and has asked ANZ New Zealand for a waiver, it said in a statement. As at Sept. 30, Jasons had $2.3 millio...

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