News archive (September 2008)

The XL Leisure Group cease trading and goes into administration and pending transactions with Quanti

Friday, 12th of September 2008 (by Quanti)

Content of this message has expired

"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 – All in Administration (the Companies)

On 12 September 2008, Alastair Beveridge, Nick Cropper, Simon Appell and Stuart Mackellar were appointed as Joint Administrators of the Companies by the Court.

The Companies entered into Administration having suffered as a result of volatile fuel prices, the economic downturn, and were unable to obtain further funding.

The Joint Administrators cannot continue trading the business and therefore all flights operated by the Companies have been immediately cancelled and the aircraft grounded. Going forward, the Joint Administrators are unlikely to be able to trade the business or operate the aircraft.

All passengers who have yet to commence their travel should make alternative arrangements as detailed below."

Source: http://www.xl.com/ (as of 12/09/2008)

Quanti announcement

The collapse of XL has left over 80,000 people stranded throughout Europe, the United States, the Caribbean and Africa. A further 200,000 who planned holidays are forced to scrap their holiday plans. Quanti used to promote and offer cashback for XL packages and flights. There are number of Quanti members who booked their holidays using our links and have transactions in pending status. We do not know whether they will be ever validated and subsequently paid. Merchant's representative has advised us all valid bookings are likely to be honoured.

We understand this is a difficult and stressful moment for thousands of people, also for some of our members. In order to show our support to Quanti members, we have decided to validate all pending transactions immediately and award them by the end of September regardless whether they will be honoured (and paid) by the merchant in the future or not. Effectively, cashback for all XL.com transactions can be claimed at the beginning of October.

Posted in Merchant updates

The above information was correct at time of publication