FORMER Airtours Holidays managing director Chris Mottershead has cut 40 jobs from the operator’s Canadian business in a move to reverse the fortunes of the North American Leisure Group.
Airtours is looking to save £7m after two tough years in the market. Last year NALG lost £11m. Most of the jobs which have gone are in middle-management roles.
Group managing director Tim Byrne said the aim was to break even by 2000/01. “We need serious improvements or there will come a time when we will look to pull out,” he said.
Airtours, revealing its first quarter results, said disastrous millennium bookings cost it £15m. Pre-tax losses more than doubled from £19.4m to £45.3m.