ANOTHER Tour operator goes BUST!

  tein 23:28 11 Sep 2008

Just anounced this is the second Tour Operator to go bankrupt this WEEK!

But this company is the 3rd biggest in the UK

click here

  Stuartli 23:39 11 Sep 2008

This is a better link that merely giving XL's website home page:

click here

  tein 23:51 11 Sep 2008

Stuartli Thanks!!

ONE other important thing is that this company have many other companies under its unmbrella that will also "Fall" so its a good idea to check who ur flying/Holiday'g with..

Also note that there website/s ARE STILL taking bookings!!

  interzone55 09:15 12 Sep 2008

In the present market tour companies will go bust on a fairly regular basis.

The business model used by these companies is precarious to say the least. They often struggle to pay the bills in winter months as the majority of their income is generated over a pretty short period of time.

Now they have rapidly rising costs, and shrinking revenue, they'll always be the worst hit in any recession.

  newman35 09:34 12 Sep 2008

As I said in the previous thread about bankrupt holiday company - need to be very savvy about how and what you book to ensure maximum protection against these failures (which are often not altogether covered by many holiday insurance products).
And there will be more 'failures' coming as the recession bites.

  crosstrainer 09:38 12 Sep 2008

A large company with many branches under it's umbrella. I feel sorry for those that will not recieve a penny back of their hard earned cash, simply because they paid by debit card, or cash.

many tales of woe on this mornings news.

  newman35 15:35 12 Sep 2008

What about the Welsh choir who were going to Canada with Zoom, then had to rebook - they did - with XL!
How unlucky can you get?

  Condom 16:44 12 Sep 2008

Well this is what happens when you speculate in the future's market and I have little symapathy for the companies now struggling. All those silly airlines which bought in advance at 150 dollars a few months ago are now stuck when oil is down to 100 dollars. When oil was going up they could also easily con the public into surcharges but it is not so easy to recoup losses that way when the price is coming down. So sorry for the passengers but they should surely have made sure they protected themselves as there is more than enough advice out there.

  interzone55 17:03 12 Sep 2008

Interesting name...

Anyway, it's not silly to speculate on the price of oil, it's just the same as people who get fixed fuel tariffs at home. Most times you win or come out even.

As for passengers losing out, many may have thought they were protected, but package holidays booked through XL are not covered by ABTA...

  peter99co 17:06 12 Sep 2008

Is the Green Party greeting the news with any satisfaction

  ulrich 19:13 12 Sep 2008

That a company can carry on taking money from people when they know they are going bust? Somebody must know about it. I feel really sorry for the people looking forward to their holidays then see it go pear shaped in the last minute.

Something stinks.

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