XL in crisis talks - now in Administration

Looks like another airline with financial woes.

Edited to update title.

[Scrooge]

If it was anyone other than Barclays I would give them a 50/50 shot, but having dealt with Barclays I would put it more at 20/80 [:#]

[Darren Wheeler]

If I was in the holiday-booking mood, there is no way I'd give my money to XL at the moment.

Originally posted by Darren Wheeler
If I was in the holiday-booking mood, there is no way I'd give my money to XL at the moment.

That's exactly their problem; and now The Times has published that article it is likely that Sky & BBC will pick it up. That sort of publicity could easily kill any chance of refinance.

XL were due to replace 15 B737s with new A330s in the next few months. I guess there will be some short delivery Airbuses available soon.

[Darren Wheeler]

You can't blame people though. There are reports that Zoom took debit card payments on the day they folded, almost to the minute before hand. As one customer said - 'It is unbelievable, if anyone else stole money like that the police would be involved.Ó

Some hopebut the figures quoted don't look too good.

Originally posted by Bill S
XL were due to replace 15 B737s with new A330s in the next few months. I guess there will be some short delivery Airbuses available soon.

No, they were due to replace the 767s with A330s on the long-haul routes. The 737s were all delivered over the last few years and are for the short-haul flights.

They also own Kosmar Holidays, which is one of the best operators to Greece.

They are actually owned by Eimskip (formally The Avion Group), which are an Icelandic investment company on the Iceland Stock Market, who also own Air Atlanta and various Scandinavia shipping companies and have very close links with West Ham Football Club (hence XL's sponsorship).

One would have thought their parent company would provide some form of liquidity to keep them afloat.

Originally posted by willd
They are actually owned by Eimskip (formally The Avion Group), which are an Icelandic investment company on the Iceland Stock Market, who also own Air Atlanta and various Scandinavia shipping companies and have very close links with West Ham Football Club (hence XL's sponsorship).

One would have thought their parent company would provide some form of liquidity to keep them afloat.

Was there not a management buyout from Avion in 2006?

Originally posted by Bill S

Originally posted by willd
They are actually owned by Eimskip (formally The Avion Group), which are an Icelandic investment company on the Iceland Stock Market, who also own Air Atlanta and various Scandinavia shipping companies and have very close links with West Ham Football Club (hence XL's sponsorship).

One would have thought their parent company would provide some form of liquidity to keep them afloat.

Was there not a management buyout from Avion in 2006?

My bad- sorry for that.

Avion seemed to get out at the right time.
Management buyouts often seem to lead to a shaky financial position.
Hopefully they will find finance but this does seem to be taking longer than they expect - XL originally said that they would be making a full announcement last week - still nothing.....

Very sorry to hear the latest news.
Many people lose jobs and pay.

XL announcement

Again shows the need to stop these impossible low fares.

CAA notice & advice

[honey lamb]

As this is being discussed here I'm going to lock this thread to prevent duplication