Clear
0 Selected+
Filters
Air
Luxury
Regulation
Operators
Agencies
City and finance
Destinations
Skills
Cruise
Technology

Hello! You are viewing your 1 free guest article this week


Please log in or join now for free, immediate and unlimited access to our award-winning online content. Find out more...

Join us
Already a member? Log in here

News

21 Sep 2016

BY Jennifer Morris

Share
TRFBLI

Anatolian creditors revealed in report

Anatolian Sky failed with a total shortfall of £1.2 million, the liquidators’ “statement of affairs” has revealed, writes Jennifer Morris.

Turkish bay
Sharelines

Anatolian Sky liquidators' 'statement of affairs' reveals the a total shortfall of £1.2 million

The operator, licensed under its World Sky Travel parent name, collapsed in July affecting around 1,200 holidaymakers.

The firm had faced problems in recent years following a number of terrorist attacks in Turkey.

The liquidators’ statement of affairs lists the company’s total deficiency at £1,253,848, most of this being an Air Travel Trust Fund claim of just over £1 million, for refunds and repatriations.

Other creditors included Advantage, Thomas Cook, Althams Travel, Feefo and Monarch, the latter of which was owed more than £10,000.

Anatolian Sky, based in Solihull, had around 150 people abroad when it failed, with 460 forward bookings covering around 1,020 people.

The creditors report, seen by TTG, explains that the position in Turkey “went from bad to worse” and bookings were “mass cancelled”.

“Although Croatian sales were still good the profit margin was very low so did not adequately compensate for this loss,” the report read.

“During 2015 the company had reduced overheads and planned more write-downs of debt – the accumulated debt was a drain though.

“In July 2016 the CAA gave warning of an inspection visit and this invariably involves tying the company up in a lot of unprofitable work, so the director decided it was time to accept the unavoidable and the company should cease trading.”

Add New Comment
Please sign in to comment.
Show me more
TTG Media Limited.
Place of registration: England and Wales.
Company number 08723341.
Registered address: New Bridge Street House, 30-34 New Bridge Street, London EC4V 6BJ
Scroll To Top