MYTRAVEL, formerly Airtours, has had a difficult week and failed to publish its results last Monday. In October it came up with a profit warning and admitted that an accounting black hole of ”65m was possible. The results finally came out on Thursday and showed a ”72.8m loss which compares with a ”62.3m profit last time around. MyTravel has signed a ”250m revolving credit facility which should keep it going until refinancing is organised by next summer. In the meantime the City does not seem to be happy with some of the payments made to senior executives or indeed the executives themselves. MyTravel says that bookings are up 40% on this time last year with a 5% dilution in prices. The shares have varied from 288p to 12p over the last 12 months.
http://www.mytravel.com