Can anybody confirm a link between XL and the Canadian group Sunwings? I heard that Sunwings operate some of the XL flights etc? Just that i have a mate who is a sunwings FO and was wondering how this might affect them?

XL operate Sunwing flights through the winter In Canada with 738's (wet leased aircraft), hopefully with the re-financing going through, it will be the same as last year !!!

HFS:)

It was rumoured earlier in this year that easyJet where looking at excel airways for it's slots. Rumour is (!) if easyjet get more than 25% of LGW slots they get the north terminal.

Quick business lesson required here please. Why would bmi be interested in XL? Completely different business model, completely different fleet of aeroplanes etc etc. Suely that's just a massive headache that bmi could do without at the moment?

:} It would be intresting to see bmi have XL, I highly doubt it, I mean, if they did, the 737's would go to bmibaby? Can you imagen a bmibaby colours on a B739 and time soon, dont really think so... However they have A332 on order, which bmi want, well, they did

Have heard that BMI are interested in moving their Manchester Carribbean work to lgw , maybe that is where that comes in !

XLA286/7 To Kefalonia
 

Heyy I am travelling of this flight on Sunday ? Does anybody know what type of aircraft oparates this flight ?

Cheers

I would guess either a 738 or a 739ER, most likely the latter as it seems to be making the longer routes.

XLA286 MAN-EFL ops on a B739, currently due to be G-XLAR this Sunday.

Anyone heard how they got on with their restructuring last week...hopefully "no news is good news" :hmm:

My contacts in/around Gatwick tell me not very well, but I am not sure how to interpret that.

Latest Update from Eimskip
 

News

10.09.08
XL Leisure Group’s refinancing not ensured

- Investors now in place to assume XL loan obligation if required-
As previously announced, Hf. Eimskipafelag Islands (“Eimskip”) (OMX: HFEIM) guaranteed a loan as part of its divestment of XL Leisure Group in 2006. According to information from XL, a process of refinancing is underway at that company. Without making any assumptions in relation to the process, the Board of Eimskip wishes to underline that, given the conditions in the European aviation market and information about the operation of XL, the likelihood that the loan guarantee will fall on Eimskip has increased.

Investors to join Eimskip

In the event that Eimskip is required to make payments under its XL loan guarantee, a group of significant investors led by Bjorgolfur Gudmundsson and Bjorgolfur Thor Bjorgolfsson will assume any potential obligation of Eimskip and delay its payment.Furthermore, it is expected that any such claim will subordinate to other claims on Eimskip. Through these actions, the impact of the loan guarantee would be limited on Eimskip’s operation. The total amount of the loan guarantee is EUR 207 million.

Gylfi Sigfússon, CEO of Eimskip:

“A successful refinancing of XL is an important goal in our aim of removing the potential impact of previously-made loan guarantees against Eimskip’s balance sheet and we hope, of course, that the XL refinancing will be completed successfully.However, at the same time we also want to point out that as with any such transaction there is no certainty and it may prove to be more difficult than expected. Even in such circumstances there is now a mechanism in place for significant, well-respected investors to then assume the loan obligation, which the Board of Eimskip believes is very positive.
As we have previuosly announced, Eimskip’s long-term goal is to bring our equity ratio to over 25%. To achieve this goal, we are working on several internal projects in order to lower Eimskip’s debt and strenghten its equity ratio.”

Eimskip - XL Leisure Group?s refinancing not ensured

ATI- Air Transport Intelligence

Icelandic transport and logistics firm Eimskipafelag Islands (Eimskip) is warning that there is an increasing possibility that it will have to meet loan obligations for travel company XL Leisure Group.

Another link here:

Internet Travel News - XL survival hopes boosted by Icelandic financiers

Same news, 180 degrees seperation on what is being said:

Fannie and Freddie bolster Iceland stock exchange | IceNews - Daily News

The OMX Iceland 15 rose by 1.35 percent with all but one listed company increasing in price.
The sole exception was the shipping company, Eimskip, which saw a drop of 16.5 percent amid investor fears that the company’s sale of XL Leisure Group would not complete successfully and that the company would be left responsible for a EUR 141 million (USD 200 million) loan. :sad:

XL not looking good.....
 

friend of mine has been called to go to a meeting tomorrow...

chico...ground crew or cabin crew? feel free to pm..

I am booked, and paid, to fly with them on 22nd of this month... Shucks! :hmm:

Just been on BBC News 24. The banner says XL files for bankruptcy and the commentary is about a meeting tonight and an announcement due before the morning.

Not looking good.

BBC Tom Symonds reporting that it has filed for administration.

Another travel interviewer suggested that the flight arriving at 08:15 in the morning may be their last.

Still accepting bookings online

As an ex Zoomie, I wish all at XL the very best and I hope what is being reported is not true and you all have a job.

Vince

I saw them yesterday a winglet equipped 737 in MJT. I hope they rebound.

Rwy in Sight

From The Times................

Thousands of British holidaymakers face being stranded overseas today as their tour operator, XL Leisure, prepares to declare bankruptcy.
XL, the third-largest package holiday company in Britain, was trying frantically to secure a multimillion-pound rescue package last night but sources close to the negotiations said that its chances of survival were slim.
Assuming that there is no last-minute rescue, the holiday company will declare bankruptcy today. This will result in its fleet of 21 aircraft being grounded, stranding holiday makers in more than 50 destinations around the world.
Rival airlines are understood to have been approached to repatriate the holidaymakers from places such as Florida and the Caribbean. A source familiar with plans to rescue them said: “They are hoping to make an orderly announcement on Friday so as not to cause a panic.”
Related Links

• Analysis: nobody is too big to go under

• XL Leisure Group enters crisis funding talks

• Passengers lose out as Zoom collapses

As most customers will have booked their holiday as a package, they will be covered by insurance from the Air Travel Organisers’ Licensing. This should pay for their flights back to Britain and hotels but many will be stuck in airports for days as they wait for seats on other airlines.
People who have booked holidays with XL for future dates should also be able to reclaim their money. However, passengers who booked flights and hotels direct with XL but not as part of a package will lose theirs.
XL is the third-largest package holiday company in Britain after Thomas Cook and Tui Travel, which owns First Choice. The company sponsors West Ham United, and its financial difficulties call into question the future of a £2.5 million annual sponsorship deal with the Premiership football club.
XL has its name on the front of the shirts and the logo emblazoned on the roof of one of the stands at Upton Park, the club’s home ground in East London. The sponsors are also given a hospitality box at the ground.
The probable failure of a tour operator as large as XL, which owns the brands Kosmar, XL.com, Freedom Flights and Travel City Direct, will shock the travel industry.
The economic climate combined with high fuel costs has put pressure on all airlines and holiday companies. Last month Zoom, the low-cost transatlantic airline, declared bankruptcy, stranding hundreds of passengers in Canada and the US.
Seguro Travel, a package holiday operator based in Scotland, said yesterday that it was entering into administration. The company offered package deals to Gran Canaria and Costa Brava from Glasgow. Seguro put blame for its closure on the failure of Futura, a Spanish airline that provided 80 per cent of its flights.
So far this year more than two dozen airlines and holiday companies have gone into bankruptcy and analysts believe that many more will follow in the coming months as seasonal demand and revenue drops sharply in the winter.
One industry expert said: “This will cause great trauma for many people. But it is not surprising, as many weaker airlines and holiday firms will struggle in the current environment.”
XL operated from Gatwick, Manchester, Glasgow, Newcastle and Birmingham. According to its last full set of financial results, it lost £24 million on a turnover of £550 million in 2007. It has more than 2,000 employees and is understood to owe large sums of money to Landsbanki, an Icelandic bank, and Straumur, an Icelandic investment fund. Its total debt was more than £200 million, according to company documents.
XL could not be reached for comment last night.

Excel no more?
 

I am so sorry to hear about Excel, a nice airline with lovely people. My thoughts are with you all.

It's official. XL are bust

very
 

sorry for all employes , now been reported on bbc and sky news.Terrible times .I know was made redundant from SN many years ago .

Has The Times jumped the gun?

I’ve just read that Eimskip - the holding company (is it the holding company?) - has loads of cash. If that’s the case, is it possible for a subsidiary - XL Leisure (parent of XL Airways) - to actually go bankrupt - if the holding company has enough money? Surely it can’t if the holding company has enough working capital? :confused:

Administrators are in the offices from 2am im told, anouncement to be made tomorrow morning.

Bad times. :mad:

I feel dreadfully sorry for the guys and gals of XL, who have flown me so brilliantly for several years now.
We are living in rotten times.

Bugger!!!:{

Another sad day. If they come back from this I will be both pleased and surprised.
Good luck to all in XL.

Bridge Builder

They are not the holding company. They sold the company to the management in 2006 and lent them some of the money by way of a loan to get rid of XL. Investment funds are run by switched on people. They know when to divest to avoid getting burned. The management of XL were on an ego trip and decided to buy the company back.

I guess September ATOL renewals were looming and the CAA would require the company to be adequately funded which is obviously isn't.

Goodbye XL, hello Kiss Air !!

Same story as always, management have a safety parachute, staff do not. I hope everyone will find alternative employment, although it may take a little time given the economic climate. :(

I have family and friends at XL. Absolutely gutted for them. Still, at least a few Middle East Royal Family's are doing OK!

It s quite frighteninig to see so many airlines going down at present- I thought the winter would be the crunch time, not now when bookings would have been made beofre the economic times got so bad.

Makes you wonder what the winter will bring.

Let's hope XL survive.

Cheers for explanation of ownership Charterguy. Still. Something strange has happened near the Arctic Circle in the past 24 hours.

Just read that the Icelandic fellows were full of beans and confidence only on Wednesday - saying they were going to guarantee XL Leisure’s loan. Odd. Very Odd. :zzz:

Analysis piece in The Times

Holiday operators: nobody is too big to go under - Times Online

I have not seen any evidence anywhere, including in The Times, that XL is in administration. Hope I am right.... :ok:

Times on-line report
 

I just read the Times on-line report.

Mention is, quite rightly, made of the trauma for XL's customers abroad.

Very importantly (?!) the fact that XL sponsor West Ham is mentioned.

Not at any point is it mentioned about the trauma and pain for the specialised staff at XL who may now wait years (!) to find similar employment.

Please all find time to complain to The Times for this selfish and un-balanced reporting.

Good luck to all.

Report in the Telegraph

XL Leisure Group, Britain's third biggest holiday group, is being put into administration after its lenders pulled the plug on the ailing company.

Travel operators have struggled to cope with a weakening in consumer confi dence and high oil prices and XL has become the latest casualty after the failure of package holiday firm Seguro earlier this week.

Kroll, the insolvency specialist, is expected to be formally appointed to handle the administration today.

Talks have been going on for the last two weeks to try to refinance the company but creditors to XL, which include Icelandic bank Straumur, are understood to have lost patience.