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THE FINNISH TRAVEL COMPANY DETUR HAS DECLARED BANKRUPTCY

An application for the insolvency of Detur Finland has recently been submitted to the Helsinki District Court. The firm, which reported financial difficulties back in September, also published a press release on its website. The reason for the bankruptcy in the company is called the growth of operating costs and the dynamics of jet fuel prices that defies rational forecasts. The tour operator experienced problems last year, repeatedly getting into scandalous situations. So, in September last ...

Special operation in Ukraine may drive Russian tour operators to bankruptcy

... operation, which became the basis for the introduction of numerous sanctions by the Western countries, brings the risks of ruining many tour operators from Russia. This opinion is expressed by the experts from Turkey involved in the analysis of the tourism market. They are confident that sanctions against Russian aviation can lead to the collapse of the civil transportation market, including not only business, but also the tourism sector. Many travel agencies associated with the Turkish destination ...

Two German shipyards filed for bankruptcy

On Monday, Two German shipyards - MV Werften and Lloyd Werft, owned by the Hong Kong company Genting, filed for bankruptcy. The information became known after the parent company, which also owns major cruise operators (Dream Cruises, Crystal ... ... the Hong Kong Stock Exchange. Experts note that the main reason for the crisis of shipyards was a pandemic - the entire world tourism industry became its victim. In particular, Genting Hong Kong suspended payments of debt to its creditors in the amount ...

Morocco is on the verge of bankruptcy due to the spread of new Covid-19 strain

The oldest Islamic state in northwest Africa is on the verge of bankruptcy. The authorities have extended the ban on international passenger flights until the end of January, continuing to ... ... COVID-19. At the same time, the closure of the borders deals a serious blow to one of the vital spheres of the Moroccan economy - tourism. Last Friday, the National Airport Authority (ONDA) announced that all passenger flights to and from the country would ...

Inflot cruise tour operator enters bankruptcy proceedings

The priority partner of the Royal Caribbean Cruises company in Russia, Inflot Cruises and Travels, was taken under supervision by the capital's arbitration tribunal. The bankruptcy proceedings were introduced by a court ruling on October 20, 2021 and are planned to be carried out until April 18. The initiator of Inflot's bankruptcy (INN 7730092487) was the GUSIB company, which filed an application on July 9, 2021. After ...

Philippine Airlines files for bankruptcy protection in US

... to complete the restructuring on its own. At the same time, the results of its holding will depend on how quickly the world tourism business begins to recover. Many countries are still closed due to the coronavirus infection. The head of the carrier,... ... management, is due to the fact that a significant part of the company's creditors are US residents and the use of the appropriate bankruptcy procedures will be more convenient. The restructuring plan assumes that expenses will be reduced by $ 2 billion, and ...

SUNWAY TRAVEL COMPANY STARTS BANKRUPTCY PROCEEDINGS

..., was taken under surveillance. The company, the closure of which due to the pandemic caused a scandal in the tourist industry market, filed an insolvency claim. RusBankrot published a material about the company at the end of March. When filing a bankruptcy petition, the Sunway indicated the debt to creditors in the amount of 41,684,256 rubles and 64 kopecks. The application was recognized as justified on June 10. Now the company is ‘observed’ by the interim manager Vyacheslav Filipians from Perm,...

SUNWAY TRAVEL COMPANY FILES FOR BANKRUPTCY

... company was enormous (more than 140 firms in Yekaterinburg alone). And while a government moratorium postponed the company's bankruptcy, it became clear that the it would be held accountable. Since the booking center continued to attract funds until the ... ... company at 100-200 million rubles. It is interesting that the founder of Sunway was Maxim Puzankov is the President of the Ural Tourism Association. He headed the Vista and Cleo Tour groups. Currently, according to data from open sources, the sole owner ...

42 VICTIMS OF PANDEMIC: WHAT AIRLINES HAVE BEEN DRIVEN INTO BANKRUPTCY

Aviation has undoubtedly been one of the main victims of the COVID-19 pandemic. Only the sector of tourism can boast of comparable data on the amount of financial damage. However, as evidenced by the data presented by the specialists ... ... were 46 of them). The reason for this, according to experts, was the measures of state regulation and moratoriums imposed on bankruptcy in different countries of the world. At the same time, as experts emphasize, the terms of bans on bankruptcy in a ...

THAI AIRWAYS LAYS OFF EMPLOYEES TO AVOID BANKRUPTCY

... on March 2. It is expected that if creditors vote in favor of the plan, the company will be able to successfully emerge from bankruptcy by May. Otherwise, the procedure will be continued. Changxing Trinuchagron, the acting president of Thai Airways, said ... ..., from employees to creditors. Now the company employs about 21 thousand people and continues to be an important link in the tourism industry of Thailand.

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