Goldtrail Holidays in Administration
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Goldtrail Holidays in Administration
Travel Weekly:
Goldtrail Holidays has gone into administration with an estimated 16,000 people overseas.
CAA head of Atol licensing Andy Cohen confirmed the Turkey specialist had failed at about 18.00hrs on Friday evening, but said the authority was still "in the dark on detail".
"It went into administration only an hour ago and I came straight back into work," he told Travel Weekly. "We are requesting information as we speak."
Cohen said the failure was not on the scale of XL Leisure Group which collapsed in September 2008 leaving 60,000 holidaymakers overseas.
"We will be able to deal with this one in-house," he confirmed.
Speculation had been rife for some time that Goldtrail could be experiencing difficulties, but even Cohen, who only this month predicted a spate of failures this year, "particularly of operators to the Eastern Med", said the timing of company's demise had been "a shock for all of us".
Goldtrail Holidays has gone into administration with an estimated 16,000 people overseas.
CAA head of Atol licensing Andy Cohen confirmed the Turkey specialist had failed at about 18.00hrs on Friday evening, but said the authority was still "in the dark on detail".
"It went into administration only an hour ago and I came straight back into work," he told Travel Weekly. "We are requesting information as we speak."
Cohen said the failure was not on the scale of XL Leisure Group which collapsed in September 2008 leaving 60,000 holidaymakers overseas.
"We will be able to deal with this one in-house," he confirmed.
Speculation had been rife for some time that Goldtrail could be experiencing difficulties, but even Cohen, who only this month predicted a spate of failures this year, "particularly of operators to the Eastern Med", said the timing of company's demise had been "a shock for all of us".
niknak
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I wonder if their demise was exaserbated by the fact that KTHY ceased flying earlier this week and the only other airlines who would have naything to do with Goldtrail, (Atlas Air and Flypig) both demanded cash up front for providing replacement flights to Northern Cyprus.
The way Goldtrail operated, by apparantly giving people the impression they could fly from many regional airports then, at the last minute moving all the flights to one or two major airports and coaching passengers there, was a particularly chaotic way of doing things, but they must have gained significantly from it.
I have sympathy for the customers and innocent employees, but it was only a matter of time and I hope that their methods are closely inspected and that lessons are learnt.
The way Goldtrail operated, by apparantly giving people the impression they could fly from many regional airports then, at the last minute moving all the flights to one or two major airports and coaching passengers there, was a particularly chaotic way of doing things, but they must have gained significantly from it.
I have sympathy for the customers and innocent employees, but it was only a matter of time and I hope that their methods are closely inspected and that lessons are learnt.
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Probably more likely the fact they have been selling holidays at between £69 B&B - £299 for all inclusive in July when they should be more like £299 / £499.... they have expanded to quickly, feel sorry for customers, staff of Goldtrail and agents such as myself who have the unwelcome distraction of sorting this mess out in one of our two peak months..... so soon after ash cloud as well!
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Agents have supported these fly-by-night companies and have been more than happy to pocket the commission. They sell at well below cost, "ghost" flights from all sorts of airports and then end up changing peoples itineraries and airports at the last minute. If the trade refused to support these idiots then a lot of peoples holidays wouldn't have to be ruined so it's no good the trade bleating and whining about the mess they have to sort out as they've helped cause it in the first place through their own greed.
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Yes a quick search reveals complaints to WatchDog, Which etc dating back to 2008 about Goldtrail. No wonder certain travel shops wanted nothing to do with them. Why was noone suspicious about £40 flights from Scotland to Turkey? Suppose its alright in hindsight and most of the travelling public are probably unaware of the goings-on and would just take a cheap deal. What airlines are contracted- Onur , Viking and Saga ?
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Goldtrail had always operated what they offerred from HUY so it is a shame to see them go
Goldtrail had been using Turkuaz Airlines recently, though had earlier had plans to use Saga into HUY, and before that Onur Air (believe it was the same at LBA too)
Goldtrail had been using Turkuaz Airlines recently, though had earlier had plans to use Saga into HUY, and before that Onur Air (believe it was the same at LBA too)
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Goldtrail Holidays ..... and the past.
Gold Trail holidays ceases trading. The below extract explains some background to the company formation:
"XL bosses reunite in Goldtrail Greece venture
Thursday, March 05, 2009
The former boss of XL-owned Kosmar has launched a new Greece programme for budget Turkey specialist Goldtrail Holidays – with flights from the airline connected to former XL chief Phil Wyatt.
Viking Airlines will operate 12 flights a week from Manchester airport and East Midlands airport to Greek islands, including Kos, Corfu and Rhodes.
Earlier this month the Icelandic franchise of Phil Wyatt’s new venture Black Pearl Investments took a 50% stake in Viking Airlines. The franchise is called BPI Iceland, with which Wyatt claims to have only an "arm's length relationship".
Former Kosmar managing director Abhi Dighe has devised the programme for Goldtrail, which is looking for more upmarket early-booking sales.
He said the new operation was working with a number of airline partners, including seat-only operator Kiss Flights, the trading name of Viking’s UK broker Meridian Aviation before it was sold to Flight Options. Kiss Flights was set up by former bosses of XL’s Freedom Flights.
“I aim to work with any airline offering capacity and flexibility in terms of rotations,” Dighe said.
“There are not many airlines that will work with independent tour operators, especially for high-season capacity.”
Dighe said talks were still under way about a brand for the new Greece operation, but there was a chance the Kosmar name could be revived."
Above a direct quote from Source ttglive from 2009.
So, it would appear that after the demise of the XL group, an airline (Viking) is created with very close links to the former XL Chief. A flight brokering company (Kissair - XL Freedom flights reborn...), is established who will sell seats for this airline to Goldtrail, a company created by the former management of Kosmar another XL subsidary that had collapsed. Legally, no doubt watertight but isnt this just a way to continue trading whilst not paying back the people you owe from your former 'trading' days? And guess what.....
Consider the Icelandic connections......... Ok lets not! Life's too short!
My thoughts go out to all affected, and to all with links to these companies. I really do wish somebody would take a long hard look at this history with its recurrent themes, and do something to stop the rot, if that is indeed the case.
There seems to be a common link here, a tearful one at that.
Then again just my view, which I believe in these enlightened times I am entitled to.
Happy for a healthy informed debate...
(Mods:- Information source accredited, and in the public domain. Neither unscrupulous, or sciolist.... just an interested party that would welcome other opinions - preferably informed.)
"XL bosses reunite in Goldtrail Greece venture
Thursday, March 05, 2009
The former boss of XL-owned Kosmar has launched a new Greece programme for budget Turkey specialist Goldtrail Holidays – with flights from the airline connected to former XL chief Phil Wyatt.
Viking Airlines will operate 12 flights a week from Manchester airport and East Midlands airport to Greek islands, including Kos, Corfu and Rhodes.
Earlier this month the Icelandic franchise of Phil Wyatt’s new venture Black Pearl Investments took a 50% stake in Viking Airlines. The franchise is called BPI Iceland, with which Wyatt claims to have only an "arm's length relationship".
Former Kosmar managing director Abhi Dighe has devised the programme for Goldtrail, which is looking for more upmarket early-booking sales.
He said the new operation was working with a number of airline partners, including seat-only operator Kiss Flights, the trading name of Viking’s UK broker Meridian Aviation before it was sold to Flight Options. Kiss Flights was set up by former bosses of XL’s Freedom Flights.
“I aim to work with any airline offering capacity and flexibility in terms of rotations,” Dighe said.
“There are not many airlines that will work with independent tour operators, especially for high-season capacity.”
Dighe said talks were still under way about a brand for the new Greece operation, but there was a chance the Kosmar name could be revived."
Above a direct quote from Source ttglive from 2009.
So, it would appear that after the demise of the XL group, an airline (Viking) is created with very close links to the former XL Chief. A flight brokering company (Kissair - XL Freedom flights reborn...), is established who will sell seats for this airline to Goldtrail, a company created by the former management of Kosmar another XL subsidary that had collapsed. Legally, no doubt watertight but isnt this just a way to continue trading whilst not paying back the people you owe from your former 'trading' days? And guess what.....
Consider the Icelandic connections......... Ok lets not! Life's too short!
My thoughts go out to all affected, and to all with links to these companies. I really do wish somebody would take a long hard look at this history with its recurrent themes, and do something to stop the rot, if that is indeed the case.
There seems to be a common link here, a tearful one at that.
Then again just my view, which I believe in these enlightened times I am entitled to.
Happy for a healthy informed debate...
(Mods:- Information source accredited, and in the public domain. Neither unscrupulous, or sciolist.... just an interested party that would welcome other opinions - preferably informed.)
Per Ardua ad Astraeus
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This thread ( http://www.pprune.org/airlines-airports-routes/399168-flyglobespan-into-administration.html ) was closed a while back due to an outbreak of 'spotter-itis', but I have to say that once again a holiday company/airline goes bust and up pop the names Wyatt, XL, Viking, Iceland, Kiss, Meridian, Greece etc etc- uncanny or what? Just missing 'Cyprus'.................................
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Aren't we supposed to go down on our knees in homage to those altruistic corporate lawyers who enable and facilitate these exemplary "entrepreneurs". They're happy, the "entrepreneurs" are happy, it's just the shareholders, aircrew and pax who don't understand the purpose of the industry.
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listen boys and girls. I am really sorry some of you are stuck, or might lose money.
but you bring it on yourselves. why not only do business with really first rate airlines that have been in business since before World War 2? you wanted a cheap fare, well, this is what happens.
and, the cheapo outfits make the first rate airlines cutback to compete. time to wake up folks.
but I do wish you all good luck.
but you bring it on yourselves. why not only do business with really first rate airlines that have been in business since before World War 2? you wanted a cheap fare, well, this is what happens.
and, the cheapo outfits make the first rate airlines cutback to compete. time to wake up folks.
but I do wish you all good luck.
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Perhaps you missed the last 2 words of my post, but thank you for your contribution from all the 'boys and girls'. I didn't choose a holiday, I chose an employer. My post was to illicit responses about business practice, and circumstances surrounding this latest news, not for valuable advice on booking my next holiday (vacation). 
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i travelled with GoldTrail last year and had a fantastic holiday in a 4* hotel All Inc for £239! it was great value for money, flights were on time and hotel fantastic. whilst working as a travel agent i sold many of their holidays and had no problems. many people in the travel industry seem to rub their hands with glee when a smaller independent operator goes under. but why they offer more choice and value for money. people talk like TOM and TCX are saints when in fact they have exactly the same issues but because its a bigger Co - you dont hear about it as much thats all. were all aware of the court case in CFU earlier this year. very sad to see GoldTrail go! hope this wont have an impact on their chartered airlines:
OHY TRK SGX
OHY TRK SGX
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The problem with Goldtrail is that many agents mis-sold them. Our firm have always advised that (the truth as Goldtrail would often admit themselves through flyers to agents) that these were cheap and cheerful holidays, if you want 5* luxury go and pay 5* luxury prices. However, we would never sell the holidays upfront as quite frequently they would cancel a large number of flights. We used them as a last minute option for anyone wanting a "cheapie". They drove down prices big style and as of yesterday holidays that were £150 with other ops quickly went back to £450!
They did what they said on the tin, if you want cheap food shop at Lidl, if you want luxury food shop at M&S..... same rubs off on the travel industry, you get what you pay for.
They did what they said on the tin, if you want cheap food shop at Lidl, if you want luxury food shop at M&S..... same rubs off on the travel industry, you get what you pay for.
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I've been lucky.
Arrived at Bodrum Airport in Turkey at 2.45am on Saturday morning (local time). Check in for our 5.45am Turkuaz flight back to Glasgow was due to open at 3am. We queued until 3.45am before check-in finally opened. Got through to the extremely expensive departure area. A 2 hour delay was on the board at 5.45am. News started to drip feed through from the UK that Turkuaz were bust. Got a text from home saying it was Goldtrail that were bust, so I called lowcostholidays (an agent on behalf of GT, who we booked through) who told us to call the CAA. I did this and were told to sit tight and our flight would be going to Glasgow. The flight from Glasgow finally arrived in Turkey (empty) and we departed at 10.45am.
We were hearing reports at the airport that some people were forced to pay for their accomodation before leaving as the hotels were not receiving money from GT.
I have never been so happy to get back home after a holiday.
On a positive note, I booked our holiday about a month ago. Yes, it was cheap and the flight was changed from Onur Air to Turkuaz just a few days before our departure but flight times were relatively similar. Flights were pretty crap, but I did do a lot of research and read a lot of reviews into the hotels on offer before committing. Our hotel was only 2* but definitely worth it for a week in the sun. Clean, central and friendly. Can't ask for much more!
The question is, will Onur Air and Turkuaz now follow GT into administration given that they will rely heavily on the business from GT?
Mc
Arrived at Bodrum Airport in Turkey at 2.45am on Saturday morning (local time). Check in for our 5.45am Turkuaz flight back to Glasgow was due to open at 3am. We queued until 3.45am before check-in finally opened. Got through to the extremely expensive departure area. A 2 hour delay was on the board at 5.45am. News started to drip feed through from the UK that Turkuaz were bust. Got a text from home saying it was Goldtrail that were bust, so I called lowcostholidays (an agent on behalf of GT, who we booked through) who told us to call the CAA. I did this and were told to sit tight and our flight would be going to Glasgow. The flight from Glasgow finally arrived in Turkey (empty) and we departed at 10.45am.
We were hearing reports at the airport that some people were forced to pay for their accomodation before leaving as the hotels were not receiving money from GT.
I have never been so happy to get back home after a holiday.
On a positive note, I booked our holiday about a month ago. Yes, it was cheap and the flight was changed from Onur Air to Turkuaz just a few days before our departure but flight times were relatively similar. Flights were pretty crap, but I did do a lot of research and read a lot of reviews into the hotels on offer before committing. Our hotel was only 2* but definitely worth it for a week in the sun. Clean, central and friendly. Can't ask for much more!
The question is, will Onur Air and Turkuaz now follow GT into administration given that they will rely heavily on the business from GT?
Mc
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I think Onur Air (OHY) will be fine as they have many other tour operators that charter them and also sizeable domestic scheduled sperations in Turkey. 
As for Turkuaz Airlines (TRK) I would worry, they are a lot smaller and most (if not all) of their UK flights were for Goldtrail. They still have German, Dutch and Belgain tour operators that charter them though and a few Turkish charter operations...
As for Saga Airlines (SGX) , again they are also a worry! A small team and fleet, although they also do aircraft leasing for Turkish Airlines and others. The majority (but by no means all) of their UK flights were for Goldtrail, although I think Kiss Flights chartered them as well.
What we need is another firm to step in and replace the gap in capacity that Goldtrail has left. Hopefully supporting these airlines and the hotels..
As for Turkuaz Airlines (TRK) I would worry, they are a lot smaller and most (if not all) of their UK flights were for Goldtrail. They still have German, Dutch and Belgain tour operators that charter them though and a few Turkish charter operations...
As for Saga Airlines (SGX) , again they are also a worry! A small team and fleet, although they also do aircraft leasing for Turkish Airlines and others. The majority (but by no means all) of their UK flights were for Goldtrail, although I think Kiss Flights chartered them as well.
What we need is another firm to step in and replace the gap in capacity that Goldtrail has left. Hopefully supporting these airlines and the hotels..
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What we need is another firm to step in and replace the gap in capacity that Goldtrail has left. Hopefully supporting these airlines and the hotels..
No, what we need is for firms to stop selling holidays below cost and for people to realise that there is a market price for holidays below which it's not feasible for companies to make any money.
Everyone quoting on here about how cheap their holiday was, I have one question. Whould you have paid £100 per person more for the same holiday with the same operator?
It's a rhetorical question....and that's why the company is bust and why a few more thousand people will now have to pay significantly more for the same holiday if they still want to go.
No, what we need is for firms to stop selling holidays below cost and for people to realise that there is a market price for holidays below which it's not feasible for companies to make any money.
Everyone quoting on here about how cheap their holiday was, I have one question. Whould you have paid £100 per person more for the same holiday with the same operator?
It's a rhetorical question....and that's why the company is bust and why a few more thousand people will now have to pay significantly more for the same holiday if they still want to go.
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No, what we need is for firms to stop selling holidays below cost and for people to realise that there is a market price for holidays below which it's not feasible for companies to make any money
Goldtrail supported hotels and airlines. Their flight only business was very big and popular, to the point that they were chartering their own flights. What I want is for these ventures to continue and stay in business. Is that such a bad thing? Turkey is a very popular place and these businesses could do with another firm to replace some of the the business lost by goldtrail. Thomson and Thomas Cook are not saints you know, if they are left to their own devices (especially for flights) prices will rocket for all.
It's a rhetorical question....and that's why the company is bust and why a few more thousand people will now have to pay significantly more for the same holiday if they still want to go.
Last edited by EuroWings; 18th Jul 2010 at 16:42.
