Anyone travelled with MYtravel??

**Lyn** · 23-11-2004, 02:03

I have travelled with my travel several times, working in school I have to travel during school holidays and my travel tend to be the cheapest, never had any real problems other than my son is 6'5" and has trouble fitting in the seat, we have booked an upgrade for next year but am now really worried that we will get there, I have already paid £300 deposit plus insurance, which is also with my travel, if they do go down what happens to the insurance? I only have flights booked as I have booked everything else seperatly. Will we know by Xmas? I am going to really panic now[msnscared]

**thistle1314** · 23-11-2004, 13:32

I'm worried now too. We've book flights with them for next July (2005) but haven't booked insurance yet. Anybody got any further news on this.

**kay9jess** · 23-11-2004, 23:45

as a large share holder in mytravel ,as far as i understand, the situation is this ,first the banks own 88% of the company,the deal was to convert the rest of the debt.they offered the remaining creditors 8% ,leaving the likes of us ordinary share holders with just 4% of what we originally had.the creditors refused this,mytravel group have now gone to court to force this group to comply and in doing so if successful will only have to give over 2% to this group.only time will tell.....[V]

**thistle1314** · 24-11-2004, 13:30

Kay9jess, thank you so much for this information. Unfortunately I'm still confused. Where does this leave us - the people that have already booked with Mytravel. Sorry if I'm being extra thick here.

**KevinT** · 24-11-2004, 19:41

Just caught the end of an item on BBC News 24. My Travel have been given High Court Approval to restructure the company subject to shareholders meeting and so should be able to continue trading as they are until next year.[clap][clap] High Court judge ruled against bondholders objections but there were some technical points that needed clearing up in the restructure plans, so they would need to have revised plans after meetings before 20th Dec.

Further report said that it should be made clear that MyTravel are ABTA and ATOL backed so any one with a holiday already booked with them would be covered to either get their holiday or money back.