UK's third-largest tour operator collapses

Updated on Sep 12, 2008 12:29 PM IST

XL Leisure Group PLC blames volatile fuel prices, a sagging economy and its inability to secure more funding for their collapse.

HT Image
HT Image
AP | By, London

Thousands of British travelers have been stranded by the collapse of the country's third-largest tour operator. XL Leisure Group PLC went into administration early Friday morning. The company blamed volatile fuel prices, a sagging economy and its inability to secure more funding.

Transport Secretary Ruth Kelly said officials were working to arrange transportation home for travelers who are now abroad. At Gatwick Airport, people expecting to go on holidays arrived to find that XL's aircraft were all grounded.

XL's collapse comes a month after the demise of Zoom, a trans-Atlantic budget airline.

SHARE THIS ARTICLE ON
SHARE
Story Saved
×
Saved Articles
Following
My Reads
My Offers
Sign out
New Delhi 0C
Monday, October 03, 2022
Start 15 Days Free Trial Subscribe Now
Register Free and get Exciting Deals