mytravel to launch no-frills airline

MYTRAVEL has revealed plans to launch a low-cost airline and digital television channel later this year.

The tour operator made the announcement as it revealed interim figures for the six months ending March 31.

Operating loss was £122.3 million, up from £77.4 million during the same period last year.

First quarter losses increased by £58.8 million.

The results were said to be in line with expectations.