Atol holder Jetline Travel was offered for an “accelerated” sale in the days leading up to it ceasing trading on March 6.
Travel agency Jetline, based in Barnet in North London, was presented to prospective buyers as “an accelerated M&A [mergers and acquisitions] opportunity”.
Due diligence on the business was to be conducted “as a matter of priority” and a sale “completed upon or shortly after the appointment of administrators”.
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Potential purchasers were requested to provide proof of funds and “be able to transact in an accelerated timeframe”.
Travel Weekly understands there were several expressions of interest in the cruise sales side of the business, but it was not possible to secure a buyer for the whole business in advance of the Atol holder ceasing trading.
Jetline Travel traded as both a cruise retailer and seller of cheaper package holidays under a variety of names, including Bargain Late Holidays, Best Priced Holidays, Clearsky Holidays, Cruise & More, Deal of the Day Holidays, Deluxe breaks, Elegant Getaways, Great Late Holidays, Green Dot Holidays, Hotdeal Holidays, Jetline Cruise, Jetline Cruises, Jetline Holidays, Jetline Travel, Our Best Holidays, Reduced to Clear Holidays and Save on Sun.
The Civil Aviation Authority (CAA) confirmed the company had ceased trading as an Atol holder on March 6 after Carnival Corporation brands Princess Cruises, Cunard and Holland America Line cancelled some outstanding bookings made through Jetline and took direct control of the remaining bookings.
The cruise lines said their action followed a “breach of contract” by the agency. Details of the breach were not specified but most likely involved an issue over payment terms.
A Carnival spokesperson said affected customers had been contacted and its teams were assisting in making alternative arrangements. Customers entitled to refunds have been advised to contact the CAA.
A spokesperson for Norwegian Cruise Line said the company was also in contact with affected customers “to advise them on their next steps”.
Jetline Travel held an Atol for 4,750 passengers. It’s unclear how many forward bookings the company had or how many clients were abroad when it ceased trading, however there should be no need for repatriation as return flights should remain valid.
The CAA pointed out Atol protection would not extend to non-flight packages, cruise-only bookings and accommodation-only bookings.
The sales prospectus for Jetline described it as “a well-established travel agency providing bespoke holiday packages (both land and cruise)” with “a broad customer base in the UK and internationally . . . sophisticated proprietary software technology”, a database of 500,000-plus and “a team of travel agents in place”.
It reported a total transaction value of £17 million for the year to November 2024, down from £28 million in 2023, the last full year for which there are published accounts.