The XL Leisure Group includes the following companies:
XL Leisure Group Plc, XL Airways UK Limited, Excel Aviation Limited, Explorer House Limited, Aspire Holidays Limited, Freedom Flights Limited, Freedom Flights (Aviation) Limited, The Really Great Holiday Company plc, Medlife Hotels Limited, Travel City Flights Limited, Kosmar Villa Holidays plc
Please Note: The French and German divisions of XL Leisure Group continue to operate as normal
NUFF SAID , AS USUAL WE THE BRITS ARE BEEN RIPPED OFF AGAIN SAME AS FRANCE’S POWER INCREASES ARE LOWER THAN OUR’S.
WE ARE PAYING FOR THE REST OF EUROPE
gezt:
The XL Leisure Group includes the following companies:
XL Leisure Group Plc, XL Airways UK Limited, Excel Aviation Limited, Explorer House Limited, Aspire Holidays Limited, Freedom Flights Limited, Freedom Flights (Aviation) Limited, The Really Great Holiday Company plc, Medlife Hotels Limited, Travel City Flights Limited, Kosmar Villa Holidays plc…’
And they’re allegedly behind with their West Ham United Sponsorship payment.
ISK 26 bn XL/Jointrace loan guarantee falls on Eimskip
XL Leisure Group („XL“) was put into aministration, last night, as attempts at refinancing the company were unsuccessful. It is therefore inevitable that a guarantee made by Eimskipafelag Islands („Eimskip“) over a loan taken by Jointrace Ltd will fall on the company and at the same time impact its earnings and balance sheet.
As mentioned in Eimskip‘s announcement to the OMX Nordic Exchange on September 9, a group of significant investors led by Bjorgolfur Gudmundsson and Bjorgolfur Thor Bjorgolfsson will acquire the claim, should it fall on the company.
The claim, in connection to the sale of XL and air operator certificates guarantees, amounts to around EUR 207 million, or around ISK 26 bn. As previously announced, the aforementioned group of investors will delay payment of the claim after taking it over. Furthermore, it is expected that any such claim will subordinate to other claims on Eimskip.
In addition, Eimskip has provided guarantees in connection to airplane lease contracts, as stated in the company‘s annual report, but the financial impact of that is still unclear.
And so, XL follows on from Innov@te. It has already been widely reported that Eimskip had their fingers burnt as a result of their involvement in the commercial ‘buy and lease back’ enterprises prior to the economic downturn in the States.
It makes one think, not only where this company is heading but, also, where it came from. Up to two years ago, I was hearing tales of the company having had previous insalubrious forays into the U.K. market in the form of various guises, which were of dubious renown.
But that, as they say, is for others to (research and) comment upon.
I heard there’s thousands of people affected by this…apparently the company were trying to sell travel insurance etc up to as late as yesterday! Well out of order in The Shrekster’s book!
90,000 stranded…is that not an issue the government should deal with?
that’s ninety thousand…oh sorry,uk holidaymakers…they will get sweet fa help from gordon then.
if it was 90,000 immigrants coming in things may have been different.
wrecktech100:
90,000 stranded…is that not an issue the government should deal with?
that’s ninety thousand…oh sorry,uk holidaymakers…they will get sweet fa help from gordon then.
if it was 90,000 immigrants coming in things may have been different.
That’s the spirit, let blame the government for everything.
I’ve got a pounding headache and indigestion, think Gordon’s trying to poison me to make space for some more immigrants.
wrecktech100:
90,000 stranded…is that not an issue the government should deal with?
that’s ninety thousand…oh sorry,uk holidaymakers…they will get sweet fa help from gordon then.
if it was 90,000 immigrants coming in things may have been different.
Some good news for you wrecktech100, the government is dealing with it.
The CAA have already run about 40 flights to get people back, and are paying a further 5 airlines to join in.
It won’t be quick but sadly the aviation industry isn’t like that, you can’t just fire up your engines and send 50 aircraft around the world to pick people up.
Richard Branson said on the news this morning some people could be stranded up until the end of September as there are so many people involved.
Its going to take around 250 specially chartered flights to get everyone home. Even if they run 20 flights a day it would take a couple of weeks.
Some 10,000 people are going to have to pay for their way home, the other 80,000 will be getting it free.
Now we might slag off government agencies and god knows Ive spent enough of my life slagging off the CAA but THAT is a ■■■■ good result!
According to the BBC the only ones that will have to pay are those that booked direct through XL.com or took out the XL insurance policy rather than an independently accredited one - as their insurance company went bust too.
I reckon it might be time to learn a lesson here, never book your insurance policy with the same company your flights are with!
I fly, sorry flew, for them on the 737. About 200 pilots on the dole yesterday. 1700 altogether out of work. Still haven’t heard officially from the company. Found out 7AM courtesy of Radio4.
No we are not. The company goes bust because it borrowed too much and couldn’t pay it back - how is that the Germans fault?
The lesson here is ALWAYS pay by credit card - then you get your money back. NEVER take insurance as part of the package (eggs and baskets) it’s always cheaper elsewhere anyway.
No we are not. The company goes bust because it borrowed too much and couldn’t pay it back - how is that the Germans fault?
The lesson here is ALWAYS pay by credit card - then you get your money back. NEVER take insurance as part of the package (eggs and baskets) it’s always cheaper elsewhere anyway.
well if the german and french companies are all part of the same company then how come they are still operating and the british part isn’t.
wrecktech100:
'…is that not an issue the government should deal with?.
Why? I’ve not had a holiday out of the country this year - so why should my tax bail out those that grabbed an ‘around the world trip for £25’ then whinge when it goes belly-up?
wrecktech100:
‘…they will get sweet fa help from gordon then…’
See above …buy-cheap, buy-twice - which I’m not the only one on here to have learned. They’ll still have saved loads having tanked-up on cheap blue-drink whilst beach-basting on their hol’s
wrecktech100:
'…is that not an issue the government should deal with?.
Why? I’ve not had a holiday out of the country this year - so why should my tax bail out those that grabbed an ‘around the world trip for £25’ then whinge when it goes belly-up?
wrecktech100:
‘…they will get sweet fa help from gordon then…’
See above …buy-cheap, buy-twice - which I’m not the only one on here to have learned. They’ll still have saved loads having tanked-up on cheap blue-drink whilst beach-basting on their hol’s
this the biggest load of ■■■■■■■■ ive ever read.
dont you shop about for your car insurance, home insurance, where you do your weekly shop, where you buy your fuel… the list is endless. so why cant people shop about for thier holidays. i didnt shop about for my holiday this year and went with one of the big companies and it cost me a bloody fortune for not a right lot i wish i had paid for one of these cheap deals.
i shop about for everything using kelkoo, ebay and amazon for almost everything and save alot instead of going to a shop and paying thier prices.
now on the otherside of the coin these people stranded if they have no travel insurance then thats up to them they took the chance and now its bit them on the arse, but those with insurance and atol protected should be flown home.
What a past 2 days
I woke up Friday morning to hear this news,we had booked to go to Orlando with Travel City Direct in July and paid £560 deposit. We will get our money back as its ATOL bonded,but it was hard to tell the kids Friday that they might not be going to Disney World. I spent all Friday morning searching the net for futher offers we could afford. I found one but i had to go to work and to work out where i could source the money for another deposit and check with work if i could move my holiday forward a week as flying in June saved £700 over July.I rang the wife from work to tell her to get all the Christmas saving out of a couple of accounts so i could book Sat. She rang me back to tell me her rear window in her car had smashed,more expense.It took them from 1330 till 2200 to come out to it and secure it,then refit it Saturday.
I got home to book that holiday but it had gone up £1000.The only way i could afford to do it was to go was to go from Manchester via Gatwick at some early hour .I managed to book one direct from Gatwick and save a further £400 but it will cost be £200 to get there. So Saturday morning i as able to tell the kids Disney was back on .
I went to work tired as i had spent most of the evening/early morning glued to the computer with my mind racing
I went to work happy as punch but i did feel for all the others affected by XLs demise. Then at work a Keighley & District bus reversed at speed in Leeds bus station straight into the front of my 08 plate decker smashing the side window,windscreen and n/s mirror in,then she jumped off her bus and said "i was supposed to give way to reversing buses". I havent moved love,i was waiting for the bus at the side of you .Despite both buses having CCTV i got 3 witnesses to cover myself.
As the windscreen was smashed i had to wait for the tow truck.
At least i managed a ride in this little machine,the first truck i have been in since leaving BY. michaelhighman.fotopic.net/p52117862.html
The driver and myself had a good laugh at a lad running for my bus then sticking his hand out despite the tow truck bolted to the front .
He turned a hid embarassed
It also turned out that the tow truck drivers son was due to fly home Friday morning with XL,he managed to phone him and tell him to get to the airport sharpish before the queues formed and blagged a free ride out earlier than his booked flight.
They say things happen in Threes.
If i get chance i will post a couple of pic`s off my phone of the recovery
and the british part isn’t.
.I managed to book one direct from Gatwick and save a further £400 but it will cost be £200 to get there. So Saturday morning i as able to tell the kids Disney was back on 
.