MyTravel seeks to rebuild position

MyTravel Group, the troubled British tour operator that owns Panorama and Direct Holidays in Ireland, today said it was seeking to rebuild its financial position and that first half trading is in line with expectations.

In a trading statement the company, formerly called Airtours, said although its current financial arrangements are in place until mid-2006, it is already looking at ways of restructuring its balance sheet "to bring the company back to full and lasting financial health".