FAILED flight consolidator Cyberes could owe the travel industry
up to £4.25 million.
The 150-strong creditors list, obtained by Travel Weekly, states
the now defunct Harrogate-based consolidator owes around £1.5
million to tour operators, airlines, cruise and ferry operators and
car hire companies – including £700,000 to IATA’s
Bank Settlement Plan.
However, IATA lawyer Trevor Sears, who is acting on behalf of up
to 70 member airlines, disputes the figure and claims IATA is owed
£3.5 million for air ticket sales between May 1 and June, when
Cyberes was put into administration.
Accommodation-only and ticket specialist Seligo, owed
£153,000, is one of the trade’s biggest losers. Other
debts include £86,000 owed to Walt Disney Parks and Resorts,
while P&O Cruises is owed almost £40,000, although it
claims the figure is lower.
Other creditors include Airtours, Cosmos, Cresta Holidays,
Holiday Autos, Thomson Holidays and Virgin Holidays. All will
discover how much they will receive at a meeting with
Cyberes’ administrators PricewaterhouseCoopers next
Thursday.
Cyberes does have some assets following the sale of its
technology system, which combined consolidated air fares and GDS
availability, to Sabre. The amount will be revealed at the
meeting.
Subsidiary company Corporate Travel International, bought by
Cyberes in April, is back in business after being sold to
London-based The Travel Company for £640,000.
Seligo chief executive Paul Stobbs said: “It leaves a sour taste
in the mouth that CTi is trading again.”
Stobbs said Seligo may consider legal action if it does not
recoup its losses. ABTA could also foot a chunk of Cyberes’
debt. CTi was an ABTA member and traded with operators under the
body’s bonding scheme.
P&O Cruises Complete Cruise Solution head of sales Giles
Hawke and new Harlequin Worldwide Travel managing director Philippa
Harris said they would recoup losses through the ABTA scheme.
Harlequin is owed £15,000.
An ABTA spokeswoman said it had received 892 claims from
consumers, mostly related to theme park tickets. She refused to
reveal the size of the claims.
The Civil Aviation Authority confirmed 338 holidaymakers were
due to travel at the time of Cyberes’ collapse, and would be
calling in its £301,000 bond to refund customers.