MyTravel strikes deal with banks

Troubled tour operator MyTravel today struck a crucial deal with its banks to secure its financial future for at least another year.

The Manchester-based group has won an extension to a £250m (€391m) credit facility due to expire in March after a series of frantic talks.

The deal meant the former Airtours business could finally publish final results bearing the scars of a disastrous year.

Chairman David Crossland said: “MyTravel has gone through the worse year in its history. The group’s performance has been unacceptable.”