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MyTravel seat-only business to be sold?
MyTravel’s seat-only schedule flight provider, Jetset Flights, could be the subject of a management buyout.
A spokesperson said the management team, led by commercial director, John Bond, have made a proposal which is being considered by MyTravel.
Jetset Flights sells flights through the trade and searches a GDS for seat-only schedule flight tickets from the UK with various carriers.
In another management buyout deal in December last year, MyTravel sold its coach holiday business, Sunway Travel Limited. Sunway is the parent company of Leger Holidays.
The struggling operator was given breathing space last week when bondholders voted overwhelmingly to extend the maturity date of the bonds, securing £221.6 million of debt until January 2007.
Read our previous stories:
16-Sept-2003 MyTravel secures financial lifeline
12-Sept-2003 Massive changes at MyTravel
19-Aug-2003 MyTravel close to finance deal
22-Jul-2003 MyTravel shares jump on finance announcement
17-Dec-2002 MyTravel sells Leger Holidays
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