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Lindblad Expeditions Results Exhibit 99.1 Lindblad Expeditions Holdings , Inc. Reports 2021 First Quarter Financial First Quarter 2021 Highlights : • Announced plans to resume fleet operations beginning with Alaska and the Galapagos during June 2021 • Broadened platform of high - quality experiential travel offerings with acquisition of majority stakes in leading travel operators DuVine Cycling + Adventure ( " DuVine " ) and Off the Beaten Path LLC ( " Off the Beaten Path " ) • Continued significant cost reduction measures as prepare to resume operations and ended quarter with $ 163.9 million in unrestricted cash and $ 22.4 million in restricted cash • Strong reservations for future travel with 2022 bookings currently 39 % ahead of bookings for 2021 at the same point a year ago • Amended credit facilities to extend waiver of leverage covenants through first quarter of 2022 NEW YORK , April 29 , 2021 - Lindblad Expeditions Holdings , Inc. ( NASDAQ : LIND ; the " Company " or " Lindblad ” ) , a global provider of expedition cruises and adventure travel experiences , today reported financial results for the first quarter ended March 31 , 2021 . Sven - Olof Lindblad , President and Chief Executive Officer , said " We are extremely excited to be on the verge of returning to operations . When our ships resume sailing in Alaska and the Galapagos this June , we will once again be doing what we do best , delivering high quality and immersive experiences to the world's most remarkable destinations . The comprehensive plan we put in place just over a year ago to maintain a strong liquidity profile will enable us to return to operations as a nimble and vibrant company and capitalize on the substantial demand for authentic adventure travel . With the vast majority of loyal guests from rescheduled voyages already rebooked for future travel and with the current booking strength we are experiencing , Lindblad is well positioned to build on the growth we were delivering prior to the pandemic . Additionally , we have expanded our growth opportunity with the recent acquisitions of Off the Beaten Path and DuVine . We just added these leading travel providers to our portfolio , but we are already seeing some of the cross - selling benefits of an expanded and diverse product portfolio . These land- based businesses , along with Natural Habitat , are already operating in various destinations , taking guests who are ready to once again experience what the world has to offer . As we begin to return to the places we have visited over the last forty years , I couldn't be prouder of what we have accomplished these past twelve months , and I look forward to the opportunities ahead for our guests , for our employees and for our shareholders . " COVID - 19 BUSINESS UPDATE Due to the spread of the COVID - 19 virus and the effects of travel restrictions around the world , the Company has suspended or rescheduled the majority of its expeditions and trips departing March 16 , 2020 through May 31 , 2021 and has been working with guests to reschedule travel plans and refund payments , as applicable . The Company has announced plans to resume ship operations for the 2021 season in Alaska and the Galapagos in June 2021 and is working with local health authorities on plans to begin operating in additional geographies during the second half of the year . As the Company's ships are currently not in operation , the majority of the fleet is being maintained with minimally required crew on- board to ensure they comply with all necessary regulations and can be put back fully and quickly into service as needed . For those ships that are preparing to resume sailing , we have begun to increase crew levels as needed . In accordance with local regulations , the Company offices are closed , and most employees are working remotely to maintain general business operations , provide assistance to existing and potential guests and maintain information technology systems . The Company continues to adhere to the comprehensive plan it implemented in March 2020 to mitigate the impact of COVID - 19 and preserve and enhance its liquidity position . This plan employs a variety of cost reduction and cash preservation measures including significantly reducing ship and land - based expedition costs such as capital expenditures , crew payroll , land costs , fuel and food , and meaningfully reducing general and administrative expenses through reduced payroll and the elimination of all non - essential travel , office expenses and discretionary spending . The Company has also accessed available capital under existing debt facilities and through the issuance of preferred stock , while continuing to explore additional sources of capital and liquidity . Return to Operations The Company has announced plans to resume operations with vaccinated guests in Alaska and the Galapagos in June 2021 and is working with local health authorities on plans to begin operating in additional geographies during the second half of the year . The Company believes there are a variety of strategic advantages that enable it to deploy its ships safely and quickly as travel restrictions are lifted . The most notable is the size of its owned and operated vessels which range from 48 to 148 passengers , allowing for a highly controlled environment that includes stringent cleaning protocols . The small nature of the Company's ships should also allow it to efficiently and effectively test its guests and crew prior to boarding . Additionally , the majority of expeditions take place in remote locations where human interactions are limited , so there is less opportunity for external influence . Lastly , the Company's guests are explorers by nature , eager to travel and have historically been very resilient following periods of uncertainty . Booking Trends