North West holiday business On the Beach saw half-year losses grow to £34.1m after bookings were hit by the Covid-19 lockdown.
The Manchester-based package holiday firm said the move comes after taking a £34.7m hit from the coronavirus crisis, PA reports.
It said bookings since the first half were also knocked hard as the Covid-19 lockdown forced holidaymakers to cancel trips - plummeting to just 10% of normal levels in April.
The losses for the six months to March 31 compare with a profit of £11.9m a year earlier.
But the group said it had seen a "significant" surge in demand since mid-June for holidays this summer as lockdown restrictions begin to ease.
Simon Cooper, chief executive of On the Beach, said: "The onset of the Covid-19 pandemic led to a rapid slowdown in demand for foreign travel, followed by the total closure of airspace across Europe by mid-March.
"Our staff responded brilliantly to ensure that the group delivered the highest possible customer service standards in the most difficult of circumstances."
In April, Mr Cooper said he would give up his entire salary for the rest of the year in a bid to help his firm through the crisis, with the board voluntarily agreeing to a 20% cut in salary and fees.
Shares in the group fell 2.4% in early trade on Tuesday.
