MYTRAVEL has agreed in principal to a management
buy-out of its scheduled seat-only arm Jetset Flights for an undisclosed sum.

The details of the deal have yet to be hammered out by
the companies, which are likely to complete the transaction over the next six
to 12 weeks.

New joint shareholders John Bond, who is commercial
director, and managing director David Partington, have pledged there will be no
redundancies.

A further 15 staff are being recruited to bring
numbers up to around 90.