Laskarina Holidays to cease trading
Laskarina Holidays co-founder and managing director Ian Murdoch has decided to cease operating the company at the end of this season.
The Greek islands specialist has been trading for 31 years and has 32 staff.
Murdoch explained: “Over the past few years market conditions have changed considerably. Low-cost airlines now fly 40 million passengers on unbonded trips and ever larger aircraft whisk even more holidaymakers away to a greater variety of exotic destinations. All-inclusives and self-packaging are here to stay.
The Sharm El Sheikh is the new Torremolinos.
“Changes to the schools holidays and wider extension of regional departures have also had an impact, but it is over supply of aircraft seats, even in the high season, which has led to the market becoming disfunctional, with unmanageable peaks and troughs in supply and demand, leavding to heavy discounting right through August.
“Now at the end of the summer, each week brings a new profit warning or a company failure and the CAA itself is predicting the end of traditional tour operating as the business models are no longer operable.
“Laskarina has struggled, but thanks to the loyalty of clients it has survived. This year has proved very difficult and we now expect to end up making a loss, our first in 30 years, which can fortunately be covered by our reserves.
“Because we do not wish to continue in the face of such uncertainty, I have decided with great sadness that the time has come to close Laskarina Holidays art the end of this season and to refund any deposit we have already taken.
“We shall not now operate a programme to the Greek islands for 2007, and it only remains for me to thank all our past and present clients for their custom, support and loyalty.
“A special mention goes to our award-winning island managers and staff.”
By Bev Fearis
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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