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More operators expected to collapse in near future

12/23/2008| 10:08:00 AM| 中文

Published: 22 Dec 2008:Up to 15 more British travel companies may collapse in the next three months.

Published: 22 Dec 2008:Up to 15 more British travel companies may collapse in the next three months.

Manny Fontenla-Novoa, the chief executive of Thomas Cook, recently said that about 15 travel agents could go bust over the winter and that the next three months would be crucial.

Describing the market as "tough", he reportedly said: "Companies are going to struggle to get bank facilities in place. We may see 10-15 companies go over the next three months. If they can survive the next three months, they have a chance as cash will start coming in."

Fontenla-Novoa said Cook had secured a three-year banking facility in September.
He predicted the UK economy might not start to recover significantly until 2010 or even 2011.

According to CAA figures, 33 tour operators have failed in the past year – up by eight on 2007. A further 26 airlines have also collapsed.

The Office for National Statistics mentioned that the number of Britons travelling abroad fell by six percent, to 16.4 million, in the three months to October, compared with the same period last year.
TAGS: Thomas Cook | The Office for National Statistics
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