p5 News jan30 28/1/09 19:47 Page 5
ttglive.com
news
Banks shy from
C
O
STO
VER
R
Y
‘high-risk’ travel
Rupert Murray.
Travel and More managing director Kevin
AGENCIES’ expansion plans – and even survival – Dowling said the agency had been in business
are being threatened as banks put a credit for 18 years without any payment delays being
squeeze on the travel industry. imposed.
North Yorkshire businessman of the year “We have done £50,000 sales in January and
Paul Smith of Quartz Travel, a Freedom consor- haven’t seen a penny. If late bookings are made
tium member, has cancelled plans to open 10 we have to pay the supplier before we see the
agencies after a loan was refused at the last money – our cash flow is seriously hit and it
minute by RBS. potentially makes large bookings impossible.
And Worldchoice member Travel and More has “For many travel companies this would be
had a 30-day delay imposed on card transaction catastrophic.”
payments by Barclaycard after a review of its Barclaycard insisted every business is
merchant services. assessed individually, but a letter from credit
Smith said he had invited Gordon Brown to manager Mark Dilley stated the decision was
visit him to understand the serious damage partly a reflection of the sector.
being done to the industry. Worldchoice chairman Colin Heal said Travel
“The bank told me travel is ‘on watch’ and ‘high- and More was one of the consortium’s strongest
risk’. We will become stagnant without loans; members financially.
our hands are tied even though sales are up. “There is always the possibility banks will
“If this continues the impact will be terrible: put the squeeze on agents, but this is the first
businesses will fold unnecessarily and expansion instance I have heard of,” he said.
plans which would create jobs will be impossible. “Worldchoice will speak to the bank to ask why
“The government and banks are sabotaging us.” they have picked on this individual.”
Freedom consortium deputy general manager Abta head of financial services Mike Monk said
Alison Holmes described the refusal to loan many financial institutions consider travel high-risk.
Quartz Travel money “bizarre and ridiculous”. “I have heard of some unreasonable behaviour
“Quartz owns everything outright and has by banks – it seems they are nervous and being
been successful for years,” she said. overcautious,” he said.
In brief
■ Triton future hangs in the balance Spanish court’s decision in favour of Atrapalo
The future of the Triton super-consortium and any other legal decisions that went in favour
was hanging in the balance this week as TTA of screen-scrapers.
Worldchoice neared a decision on its involvement
with the group. A meeting on Wednesday failed ■ Flying Matters claims organic imports victory
TALL STOREY: Thomas Cook is offering to end in a resolution and TTA managing director Aviation lobby group Flying Matters has
deals on hotels featured in ITV1’s Piers Simon Hargreaves was due to attend a board welcomed the Soil Association’s decision to
Morgan On Dubai, which was aired last meeting today to discuss some outstanding scrap plans to refuse to give organic status
night. Despite talk of a financial crisis in issues before an announcement is made. to food imported by air. Flying Matters chairman
Dubai, hotels are faring well, according to Brian Wilson said that this was a victory for
Christoph Mares, chief operating officer ■ Ryanair to continue screen-scraper fight commonsense over “environmental faddism”
of Emaar Hospitalities, a subsidiary of the Ryanair has said it will continue to take action as the association’s plans would have put
company constructing the world’s tallest against screen-scraper websites, despite losing barriers in the way of trade with developing
building, the Burj Dubai (pictured), which a case against Spanish website Atrapalo. The countries and done nothing to reduce the use
at 818m tall is just over half a mile high. no-frills carrier said it would now appeal the of air freight.
30.01.2009 05
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