MYTRAVELITE, former Airtours, which includes Mytravel Airways, the charter operator based at Manchester Airport, and MyTravel, a budget carrier whose hub is at Birmingham, has reported a ”618m half year loss but at the same time confirmed a refinancing valued at up to ”1.3bn which will take it through to May 2006. The new funding is dependent on convertible shareholders agreeing to an extension of their loans but since they would loose everything if this was not the case it is considered a formality. The huge loss includes substantial write-offs. The company is still scaling back and whilst bookings are down by 5% actual holidays available have been reduced by 12%. http://www.mytravelgroup.com