An appeal document has been drawn up by Airtours in preparation for a showdown with the European Commission over its failed bid for First Choice.
The operator has until December 2 to lodge an appeal.
Chairman David Crossland said he is torn between reluctantly accepting the decision or fighting what he described as a ‘flawed ruling.’
He said: “The appeal process will cost us £1m a year for three years and take up management time.
“But then the ruling has future implications not just for Airtours but for every major industry.
“At the moment I am undecided what is the best course of action is for Airtours.” But observers believe Crossland will not proceed with an appeal.