MYTRAVEL said it has no plans for “significant” shop
closures, but admits it has to reduce fixed costs.

As part of its strategic review update at today’s Annual
General Meeting, MyTravel said its increased fixed cost base – aircraft, cruise
ships, hotels and retail stores – had “reduced its flexibility to respond in a
fragile economic environment”.

“We have no plans for significant retail store closures. The
size of our retail estate is not static, we do however recognise that our
retail outlets are the route to our customers.”

Meanwhile, MyTravel intends to make a claim for damages
against the European Commission for blocking its bid to buy First Choice in

The claim is likely to be “substantial”, although an outcome
is not expected for a couple of years.