AirFastTickets UK In Administration Owning £10 Million To Debtors

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It is certainly not a surprise that the UK arm of AirFastTickets has entered administration (bankruptcy basically) owning debtors £10 million or more.

AirFastTickets UK

TTG Digital (UK travel trade website) has been reporting about these developments and you can access their latest article here.

Here’s an excerpt from the article:

The UK branch of the company entered administration last week, two months after Iata terminated its licence, preventing it from selling flights in the UK. It also failed to renew its Atol licence on October 1.

Geoff Carton-Kelly, partner at FRP Advisory, the administrators for AirFastTickets UK, confirmed that it was Canadian airline AirTransat that initiated the closure of the company’s office.

However he added there were also a “large number of other airlines that were owed money”.

“We will be issuing the full [administrators’] report in around three weeks, but it’s looking like [the total amount owed will be] more than £10 million,” he told TTG.

Conclusion

Seems that at least the AirFastTicket’s US arm appears to be trading advertising themselves as the “world’s leading booking experience”.

Many of the customer that booked on company’s UK website found out that their travel reservations were canceled after the company had already collected the payment from their credit cards.

Let’s see if this folding of their UK operations will lead to collapse of AirFastTicket’s other country operations as well.

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