Times - News - Holiday Giant enters crisis funding talks

[bob.s]

Not wishing to be too gloomy after the collapse of ZOOM this week. I have just read today's Sunday TIMES and on the front page is an article about XL Leisure Group 'in urgent talks with its banks after plans for a refinancing hit delays'. XL group own XL air airways. I am due to fly with them on Tuesday 2 September for 11 nights. Anyone going out to Turkey with XL might want to keep an eye on this one. Having said that they also state that bookings for 2009 are up on 2007/8. Hopefully this is all news paper talk but in today's climate anything can happen.

[Trish]

I hope everything is ok for you. Thanks for mentioning it, as friends of ours are travelling with them on 19th September to icmeler. They're meeting us there, we're flying with another airline. I'll ask them to check it.

[twizzle]

I'm flying with XL to Dalaman on Monday 8th September.

Fingers crossed that there're no problems.

[Colette]

With the failure of Pure flights in the last few days and details of that company along with other companies gone since last year are here



http://www.caa.co.uk/default.aspx?catid ... agetype=87

[bob.s]

Problem with this situation is if you have booked direct with an airline it is unlikely you will be ATOL protected therefore if they go bust your trip and money go with them. If the holiday has been booked through an ATOL agent you will be protected by ATOL.

[Diane Rigby]

This is the exact reason that when I book my flights I pay with my credit card. At least then you have some comeback and should get your money back from your credit card company. Di.

[bob.s]

I have as always paid for flights etc with my credit card. ATOL though means that they will get you back home in any event. Credit cards only protect the cost of the flights. If it all goes wrong you will still have to arrange an alternative flight back. Hopefully as XL are the third biggest operator in the UK things are not anywhere near as bad as the small operators. XL made an operating loss of £24M in 2007 and are still flying this year and are taking bookings for 2009. Fingers crossed.

[twizzle]

This article may help to allay some fears:

http://www.telegraph.co.uk/money/main.j ... nxl101.xml

My fingers are still well and truly crossed for a positive outcome.

[geovil]

It was in the news that XL are about to announce they are cancelling all winter flights to the Caribbean.
Geovil

[bob.s]

They had already announced the caribbean flights were to be cancelled. I think Easy Jet have done the same. The cost of fuel is killing airlines. I would expect to see some big increases in prices next year. The era of cheap flights is soon to be a distant memory.