Thousands of holidaymakers have been left stranded abroad following the collapse of the UK’s third largest tour operator, XL Leisure Group.
The travel group, based in Crawley, West Sussex, announced on Friday morning that it had called in administrators after failing to secure new investment from its lenders, blaming record oil prices and current economic turmoil for its woes.
As a result, around 85,000 people are now frantically seeking alternative flights home, while a number of holiday-bound flights have been grounded in the UK .
According to the Civil Aviation Authority (CAA), roughly 50,000 customers with XL tour operators have been left stranded abroad, as well as an additional 10,000 who flew with XL Airways and 25,000 with tour operators who shared flights with the travel company .
In addition, a further 200,000 customers believed to have advance bookings with XL tour operators have been left with their holiday plans in tatters.
Director of the CAA's consumer protection group, Richard Jackson, said that a huge task is now underway to "protect and bring home the customers of the failed tour operators" .
"Since XL Airways is no longer operating, flights to bring people home will be made with other airlines," he confirmed.
The company, which flew holidaymakers to more than 50 destinations across Europe, Africa and the Caribbean, is the latest travel firm to be forced under by a combination of rising fuel costs and tough financial markets.
XL Leisure chief executive, Phil Wyatt, said in a statement that he was "devastated" at the company's collapse and apologised to his customers and 1,700 employees.
He added that the withdrawal of support from lenders had left them with no option but to call in administrators, who now face an uphill battle to save the profitable part of the firm .
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