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27/11/2001
Airtours reveals worldwide job losses
UK travel operator Airtours has announced plans to axe 1,600 jobs despite recently reporting a 57 per cent rise in annual operating profits.
The company have described the job losses as unavoidable, citing the tough trading conditions created in the wake of the September 11 terror attacks as adversely impacting on leisure travel industry.
It is thought that the job losses will occur across every division of Airtours, with employees in the US most affected by the move. Around 200 jobs are to go in the UK, with operations in German and Scandinavia also earmarked.
Commenting on the decision, Airtours Chairman David Crossland commented that “the outlook for the leisure travel industry this year is uncertain, and in the light of our record performance, growth this year will be challenging.”
However, he went on to project that the company’s performance would possibly recover by summer 2002, following the rebranding of Airtours as My Travel Group, pending shareholder approval. If given the go-ahead, the move will see Airtours’ subsidiary divisions - Airtours airline, Airtours Holidays and the Going Places travel agencies – regrouped and aligned under the same name. (CL)
The company have described the job losses as unavoidable, citing the tough trading conditions created in the wake of the September 11 terror attacks as adversely impacting on leisure travel industry.
It is thought that the job losses will occur across every division of Airtours, with employees in the US most affected by the move. Around 200 jobs are to go in the UK, with operations in German and Scandinavia also earmarked.
Commenting on the decision, Airtours Chairman David Crossland commented that “the outlook for the leisure travel industry this year is uncertain, and in the light of our record performance, growth this year will be challenging.”
However, he went on to project that the company’s performance would possibly recover by summer 2002, following the rebranding of Airtours as My Travel Group, pending shareholder approval. If given the go-ahead, the move will see Airtours’ subsidiary divisions - Airtours airline, Airtours Holidays and the Going Places travel agencies – regrouped and aligned under the same name. (CL)
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MyTravel sails into a £911m loss
Struggling holiday firm MyTravel, formerly Airtours, reported overall losses of £911 million following a worse than expected trading year. In the year to September 30, the tour operator unveiled an operating loss of £358 million and a £359 million write-off of key assets that contributed to an exception items total of £473 million.
MyTravel sails into a £911m loss
Struggling holiday firm MyTravel, formerly Airtours, reported overall losses of £911 million following a worse than expected trading year. In the year to September 30, the tour operator unveiled an operating loss of £358 million and a £359 million write-off of key assets that contributed to an exception items total of £473 million.
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NI Firms More Optimistic On Job Creation Over The Next Year
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The Travel Company buy up Corporate Travel International
PricewaterhouseCoopers (PwC), the joint administrators of Corporate Travel International have announced the successful sale of the business and assets of the subsidiary to The Travel Company.
The Travel Company buy up Corporate Travel International
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Northern Ireland WeatherToday:It will be cloudy again throughout the day. Mainly dry in the morning, but patchy drizzle in places, becoming more widespread and persistent in the afternoon. Freshening southwesterly winds. Maximum temperature 12 °C.Tonight:Cloudy with a spell of heavy rain pushing south through late evening and the early hours, followed by some clear spells. Minimum temperature 6 °C.
