Balance-sheet StrengthA zero-debt, equity-heavy balance sheet gives durable financial flexibility. Over a 2–6 month horizon this reduces refinancing risk, supports investment or opportunistic M&A, and lets management sustain distributions or cushion travel demand shocks without immediate external funding.
Top-line RecoverySustained multi-year revenue recovery signals improving market demand and client re-engagement after the downturn. Durable top-line momentum improves capacity to scale fixed-cost absorption, supports incremental margin gains, and underpins medium-term planning and reinvestment.
Improved Cash GenerationConsistent positive operating cash flow and multi-year free cash flow generation enhance self-funding capacity for growth and dividends. Over months, this lowers dependence on markets, supports working-capital needs in peak seasons, and backs strategic initiatives without adding leverage.