Libra Holidays UK Limited announced that following extensive discussions with both the Civil Aviation Authority (CAA) and its Bond obligors, that both the CAA and Bondholders have agreed in principle, to the renewal of the Libra Holidays UK ATOL licence and the underlying bonds to cover such licences for the coming year (April 2008 to March 2009).

This in principle approval follows the completion of a new shareholders agreement and a substantial capital injection and the submittal of an approved three year business plan presented to all parties by the new management team.

In addition, the company announces the completion of the acquisition of the Argo Holidays / Jetlife brands and the ongoing business.

Commenting upon the announcement, Michael East, Chairman- Libra Holidays UK, said: “We are very pleased indeed to announce this important and vital strategic step forward for the new smaller but very focused Libra UK business. With its new management team, led by new Chief Executive, Eamonn Ferrin, I would like to thank our investors, the management team and the CAA and our bondholders for their great support throughout this comprehensive restructure process. The new investors and management team have great belief that the future business plan and strategy of our new specialist niche tour operation business has great potential to be shareholder enhancing over the coming years.”