Deal close for Jetset Flights

MYTRAVEL has agreed in principal to a management buy-out of its scheduled seat-only arm Jetset Flights for an undisclosed sum.

The details of the deal have yet to be hammered out by the companies, which are likely to complete the transaction over the next six to 12 weeks.

New joint shareholders John Bond, who is commercial director, and managing director David Partington, have pledged there will be no redundancies.

A further 15 staff are being recruited to bring numbers up to around 90.