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(29 November 2002)
MYTRAVEL has confirmed it will sell one of its
specialist businesses by Christmas.
Sources suggested the most likely candidate was coach
operator Leger Holidays, in which venture capitalists HG Capital and 3i have
already expressed an interest.
Although the group has not ruled out further sales of
non-core businesses it said there were no “active conversations” about other
sell-offs.
MyTravel chief executive Peter McHugh said: “It is likely
in the next two to three weeks we will sell one small, non-core business. It
will be the only one we will sell over the course of the winter.”
MyTravel charter tour operations and distributions
managing director Steve Endacott has also reassured shop staff their jobs are
safe.
In a briefing to staff, Endacott said there would be
no wholesale redundancies but there would be cost savings and vacant posts may
be frozen.
“He said he would be watching every penny,” said a
source within Airtours.
