Summer bookings for 2008 are holding up well but Summer 2009 is less clear cut, says the latest report from the Air Travel Trust.
In its annual report for the year ended March 2008 it reveals 25 ATOL protected companies failed over the year. ATT also revealed there was an increase in the number of failures of ATOL protected companies between April and July – during the first four months of the financial year.
ATT chairman Roger Mountford said: “Whilst the current level of bookings for Summer 2008 is broadly in line with forecasts, the signs for summer 2009 are less clear cut.
“An increase in the number of insolvencies is an indicator of tougher trading conditions and may be an indication of a further deterioration later this year.”