Matt Cheevers, managing director, Teletext Holidays, responds to XL Leisure Group failure.

“The failure of XL has been widely expected over the last few weeks so therefore it has come as no surprise.

“The immediate implications are vast for many travel companies but it will be the longer term impact that may well be worse. This will cause many financial issues for a lot of companies and whereas we were expecting a high level of failures this autumn the figure will now be a lot higher.

“This will again change the shape of our industry and further worsening of the economic climate will only add to the problems. Tough times ahead for anyone involved in the travel industry but as always there are plenty of opportunities.”