XL Leisure Group, the UK’s third largest tour operator, went into administration with debts of £143 million and grounded its 21 aircraft on Friday. According to XL group’s website: "The companies entered into administration having suffered as a result of volatile fuel prices, the economic downturn, and were unable to obtain further funding."…
XL Leisure Group, the UK’s third largest tour operator, went into administration with debts of £143 million and grounded its 21 aircraft on Friday. According to XL group’s website: "The companies entered into administration having suffered as a result of volatile fuel prices, the economic downturn, and were unable to obtain further funding."
XL, which include Kosmar Villa Holidays and The Really Great Holiday Company, provided flights and holiday packages to the Mediterranean and Caribbean. The group, which carried 2.3 million passengers last year, has 1,700 employees worldwide.
The CAA said 85,000 people across the UK could be stranded abroad and 200,000 have made advance bookings with the company.
Package holidaymakers have financial protection under the Air Travel Organisers’ Licensing (Atol) scheme. But customers who booked directly through the XL website or call centres are not protected.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
