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12/09/2008
Thousands Left Stranded As Holiday Firm Goes Into Administration
The UK's third largest tour operator, XL Leisure Group, has gone into administration, leaving tens of thousands of holidaymakers stranded.
The companies fleet of planes has been grounded after talks with its financial backers, Icelandic investment group, Straumur and Barclays failed to come to an agreement.
Administrators have been called in to see whether the company can be saved from bankruptcy.
The company blamed volatile fuel prices, a sagging economy and its inability to secure more funding.
Consumers who booked their holiday by credit card or used a tour operator should get their money back. However, people who used a debit card will most likely not be protected.
XL had operated flights to more than 50 destinations in Europe, the United States and Africa.
British Transport Secretary Ruth Kelly said: "I have been holding discussions with my officials about this situation and both they, and the Civil Aviation Authority, have been monitoring developments and putting rescue plans into action."
(CD/JM)
The companies fleet of planes has been grounded after talks with its financial backers, Icelandic investment group, Straumur and Barclays failed to come to an agreement.
Administrators have been called in to see whether the company can be saved from bankruptcy.
The company blamed volatile fuel prices, a sagging economy and its inability to secure more funding.
Consumers who booked their holiday by credit card or used a tour operator should get their money back. However, people who used a debit card will most likely not be protected.
XL had operated flights to more than 50 destinations in Europe, the United States and Africa.
British Transport Secretary Ruth Kelly said: "I have been holding discussions with my officials about this situation and both they, and the Civil Aviation Authority, have been monitoring developments and putting rescue plans into action."
(CD/JM)
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10 December 2007
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30 July 2009
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20 November 2008
Chancellor's Aid For Small Businesses
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Northern Ireland WeatherThis Evening and Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
