News

MYTRAVEL group finance director David Jardine and global development division chief executive Richard Carrick have left the company following the publication of its results for the year.

The figures, which were supposed to have been published on Nov 26, revealed a group loss of £72.8 million. Operating losses were £24.1 million while UK turnover was down 7%.

The company has also been forced to admit £26 million worth of accounting errors have mounted up over recent years because of “serious control failures.”

Chairman David Crossland said: “MyTravel has gone through the worst year in its history. The group’s performance has been unacceptable. However, the level of bookings we are achieving this year gives me reason for optimism.”

Group bookings for 2003 are 40% up on last year with prices 5%.

Carrick is to leave the company as the global development division is being disbanded. Jardine, meanwhile, is to be replaced by former non-executive director Kazia Kantor.