Thousands of holidaymakers face uncertainty after a travel firm has collapsed into administration.
The London-based firm, which had been operating for 25 years, has left approximately 5,000 customers affected.
Founded in 2000, Jetline Travel, a prominent cruise and package holiday provider, has taken hundreds of thousands of people on holidays during its quarter-century of trading.
The company, which also operated under several other names including Bargain Late Holidays and Cruise and More, ceased trading as an ATOL holder in March.
The collapse has put at risk an estimated 800 forward bookings, with 20 customers currently stranded overseas. The Civil Aviation Authority (CAA) confirmed the company stopped trading as an ATOL holder on March 6.
Cruise ships are a luxurious way to travel PEXELSHolidays including cruises with popular companies like Princess, Cunard, and Holland America have been affected. Many bookings have been cancelled due to a "breach of contract" with the travel firm.
The company primarily operated as an agency selling cruises and affordable package holidays to British travellers.
Alan Clark from financial recovery specialist Carter Clark, and Neil Bennett from restructuring and insolvency firm Leonard Curtis, were appointed as joint administrators on March 28.
Administration occurs when a business can no longer meet its debt obligations. A licensed insolvency practitioner is appointed to either restructure the business and negotiate with creditors, or to liquidate assets and repay creditors.
The company primarily operated as an agency selling cruises and affordable package holidays to British travellers
PEXELSThis development likely marks the end for Jetline Travel after its 25-year trading history.
The company's director and principal owner Steven Roberts has declined to comment on the situation.
Reports suggest Jetline Travel failed to pass on customer payments to suppliers, leading to the current crisis.
The company had been selling cruises both as a retailer and at net rates, making itself the principal on some bookings.
Carnival brands Princess Cruises, Cunard, and Holland America Line announced the cancellation of "some outstanding bookings through Jetline Holidays due to breach of contract".
Travel Weekly reported: "It is understood Jetline, which traded under multiple brands, had failed to pass on customer payments."
The CAA has established an escrow account that held 70 per cent of ATOL payments, which should cover the majority of ATOL refunds for affected customers.
However, the CAA has warned that reservations offered solely as accommodation, non-flight packages and cruise-only deals without flights are not covered by ATOL protection.
A CAA spokesperson clarified: "We understand that Jetline Travel Ltd acted as agents for other ATOL holders, these bookings are not protected under the ATOL of Jetline Travel Ltd."
Customers should check their ATOL Certificate to identify the responsible ATOL holder.
In 2023, Jetline Travel recorded a transaction turnover of £28.1million and an operating profit of £655,000.
In 2023, Jetline Travel recorded a transaction turnover of £28.1m and an operating profit of £655,000
LONDON STANSTED AIRPORTBy the year ending November 2024, transactions had fallen to £17m, according to a sales prospectus.
The directors had sought to find a buyer through an "accelerated" sale before entering administration.
The company left Abta in November 2020 while being investigated for its handling of customer refunds during the pandemic.
A spokesperson for Advantage Travel Partnership, which represents Jetline within its travel industry network, expressed profound sorrow to The Independent.
They stated: "We are greatly saddened that Jetline Travel has ceased trading. They have been a highly valued member of the Partnership since 2015, and our thoughts are with their customers and staff who have been impacted."
The collapse affects both UK customers and potentially international clients, as the company reportedly conducted "a huge amount of business in the US".
