UK's third-largest tour operator collapses

[bambbbam2]

UK's third-largest tour operator collapses - CNN.com

LONDON, England (AP) -- Thousands of British travelers were stranded Friday when the country's third-largest tour operator collapsed.


XL Leisure Group PLC went into administration overnight blaming volatile fuel prices, a sagging economy and its inability to secure more funding.


"All flights operated by the companies have been immediately canceled and the aircraft grounded," said a statement on the company's Web site.


XL Leisure's brands includes Kosmar, Freedom Flights, Aspire and medlifehotels.com.


British 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.


"We didn't find out about it until we got here. I'm pretty annoyed," said Graham White, 27, of London.


The Civil Aviation Authority (CAA) estimated there were 50,000 customers abroad who had booked through an XL tour operator, 10,000 on holiday with XL Airways, and 25,000 with other tour operators who shared the XL flights.

Some 200,000 customers had advance bookings with the XL tour operators, the CAA said

[stuartfaz]

These guys also sponsor (or sponsored would be more accurate, I guess) the EPL team I follow, West Ham.

Makes me wonder how they're going to pay for the manager they hired yesterday.