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More travel bankruptcies 'likely'

Published on 2 Sep 2009 under category: legal

It is likely that there will be more bankruptcies in the travel industry, an expert has said.

Lesley Shepherd, manager of corporate communications at the European Regions Airline Association, stated that falling demand from passengers could result in firms requiring the services of bankruptcy solicitors.

She said: "I think we will see more bankruptcies coming to the end of this year until recovery starts but when that happens, who knows?"

Ms Shepherd added that guessing when this upturn will occur is similar to asking how long is a piece of string.

She also claimed that aviation firms in the Baltic States are holding up better than those in Europe, which could mean that they may be less likely to require advice from bankruptcy solicitors.

According to the International Air Transport Association, international schedule traffic figures for July show a 2.9 per cent drop in passenger demand when compared with the same month last year, bankruptcy solicitors may be interested to hear.

If you require advice on Insolvency and Bankruptcy please call us on +44 (0)20 7831 0101 and ask for Katherine Sillett.