Troubled MyTravel lowers losses

Troubled tour operator, MyTravel announced lower half year losses yesterday as initiatives to turn the business around began to bear fruit.

Pre-tax losses were reduced to stg£199.6 million in the six months to March 31 from stg£617.9m in the same period last year after the group disposed of several operations. MyTravel has sold businesses including its German operation in a bid to reverse spiralling losses.