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XL Leisure Group sold in £237m MBO
30 Oct 2006
Icelandic conglomerate Avion Group has sold XL Leisure Group for $450m (£237m) to a buy-out vehicle led by current CEO Phillip Wyatt.
XL Leisure Group comprises Excel Airways Group in the UK, Star Airlines in France and Star Europe in Germany.
Excel brands in the UK include XL.com, Travel City Direct, Kosmar, Excel Holidays, Aspire and Freedom Flights. It is the fifth largest travel group in the UK with a combined ATOL requirement of 1.1m to Sept07.
Could this make a difference..............?
PP