Travel Trade Gazette TTG dated 17/9/01
"Analysts say Airtours at risk". City analysts warn the fallout from the US attacks could plunge Airtours into crisis. Airtours is said to be more exposed that its major rivals because of its hugh US interests. 17% of Airtours earnings before interest comes from US company TSI. It incs AutoEurope - a car rental company for americans traveling in europe - which is going to have a horrific year. It has a US and Canadian tour operation as well as a US flight consolidator and a cruise booking agency. The analyst also stated "Airtours has a lot of problems at the moment and this could be the killer blow. The Company is not popular in the City - its already struggling to make its figures. They are sitting on a time bomb". Tim Byrne MD said the Company was robust and they expected to deliver profits of around £150-160 million. "The
business is in excellent shape with lots of cash".
I hope its all a load of tosh, only time will tell.
