AIRTOURS COULD GO BUST - Mail on Sunday

[codge90]

Big Headlines in the Financial Supplement of The Mail on Sunday!

Looks like they won't even make the next few months never mind the rest of this year!

"'There is a very high possibility that the banks will not keep the company running after this summer,' said analyst Andrew Monk of stockbroker Oriel Securities"

http://www.thisismoney.com/20030427/nm62216.html

 

[Aceman88888]

Hey..... I read that too!!!!

I booked via TravelCity Direct but had to take flights with Mytravel as the TCD jumbo's were full.

As long as they don't go bust before this Friday I don't care

I don't think many would mind being stranded in Orlando for a few days!!

 

[Fantasia Sam]

Aceman888 - I'm sure everything will go OK for you, have a great trip.

 

[UKDEB]

That's very sad news - it's a very worrying time for the aviation industry and the implications don't bear thinking about. Let's hope it doesn't come to that.

 

[cool chris]

hi codge90
i don't know if you saw my post a couple of days ago, but i think this article has made up our minds and unfortunatly we will not be booking with them this time. I just feel like UKDEB sorry for those poor employees lets hope that they find new jobs or get bought out by another travel company.

thanks for the link.

cool chris

 

[codge90]

Hi Chris.

I have been to Florida twice with Travel City Direct. They are less known than Airtours but are IMO Cheaper and Better!.

The best has to be Virgin, but they are a bit more expensive and their flights sell out quickly!

 

[squitty]

We heard a while ago that My Travel had only been given a license to fly for this year, the TA said if you booked with them for this year then you should be OK.
Still sad as My Travel are one of the few airlines that fly direct out of NCL

 

[DizneyDaze]

I am now desperately tring to find something else for Christmas, we have only paid a very small deposit to Airtours and I am now sure it is not worth waiting or taking any chances on them... the sad thing is that we only went with them because I couldn't get direct fights with anyone else................oh well wish me luck and if anyone has got any pixiedust handy throw some our way

 

[kazzie]

Good Luck if you decide to go for alternative flights

I honestly don't think they will go bust.It would be catastrophic for the travel industry if one of the 'big four' went out of business.They will be bailed out somehow.

 

[Enright78]

Its a pity we don't have an equivalent of Chapter 11 as they do in the States. This allows businesses to keep trading and hold off their creditors. United Airlines have been in Chapter 11 for some time now (and look to be followed soon by AA) but are still flying and taking bookings with no problem!

 

[disney daft dad]

Disney Daft Mum again....Hi Dizneydaze, please don't panic just yet...Airtours (mytravel) are an ABTA/ATOL bonded company, and a s such your money is protected. Should they (god forbid) cease trading then the money you paid will be protected. What often happens in this case is that the other suppliers will offer to "take on" the holidaymakers and they will make a claim against theier bonding...or if passengers pay by credit card then they have protection with them also....This happened with passengers who booked with Affordable Florida and they went bust just before Easter... all passengers on holiday were repatriated by other airlines, I even had to help my Dad salvage his holiday (should have booked with me in the first place, but that's a whole other story!! ) He had paid his holiday in full, the result was his flights were fine and his car hire was fine all we had to do was get different accommodation. The moral of the story was that he used his credit card!!! The terms of card usage was that the credit card company became the party owed by AF not Dearest Father (who should have known better!!)

A bit of a long winded one...sorry guys...and thanks for sticking with it...... what I'm trying to say is don't panic even if the worst does happen to my industry colleagues you are financially protected.

Val
x

 

[uksaint]

Originally posted by Enright78
Its a pity we don't have an equivalent of Chapter 11 as they do in the States. This allows businesses to keep trading and hold off their creditors. United Airlines have been in Chapter 11 for some time now (and look to be followed soon by AA) but are still flying and taking bookings with no problem!

Actually, we do. a company can apply to be placed in voluntary administration. This affords them some protection from creditors whilst still being allowed to continue trading under the watchful eye of an independent administrator, usually a firm of accountants.