News

MYTRAVEL said it has no plans for “significant” shop closures, but admits it has to reduce fixed costs.

As part of its strategic review update at today’s Annual General Meeting, MyTravel said its increased fixed cost base – aircraft, cruise ships, hotels and retail stores – had “reduced its flexibility to respond in a fragile economic environment”.

“We have no plans for significant retail store closures. The size of our retail estate is not static, we do however recognise that our retail outlets are the route to our customers.”

Meanwhile, MyTravel intends to make a claim for damages against the European Commission for blocking its bid to buy First Choice in 1999.

The claim is likely to be “substantial”, although an outcome is not expected for a couple of years.