has sold off its loss-making German business and two smaller tour operators in
Touristik GmbH (FTi) is the fifth largest tour operator in Germany but also
operates in Austria and Switzerland. It has been sold to RM3366, a
privately-owned German company, for a nominal consideration.
Poland, Ving Sp z o.o and Itaka Sp z o.o. have been sold to a consortium,
including members of the management team.
There was no material cash consideration for the sale.
disposals will result in an exceptional loss for MyTravel in the year to
September 30, 2003, of £86 million.
added that the Civil Aviation Authority had also confirmed it was renewing the
company’s ATOL, valid from today, October 1.