Troubled MyTravel loses £911m

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The Independent Online

Troubled tour operator MyTravel today unveiled wider-than-expected losses of 910.9 million, after another turbulent year for the former Airtours company.

The figure for the 12 months to September 30 included exceptional items worth £472.7 million, mainly caused by a review of the value of MyTravel's assets.

At an operating level, losses of £358.3 million were far heavier than the £20.4 million seen a year earlier.

Chief executive Peter McHugh said: "2003 has been an extremely poor year for MyTravel."