There has been a lot of talk about how quick the economy is starting to bounce back. This goes double for the travel industry, which has been struggling for a long time. That being said, it has not fully recovered yet. This is very easy to see after hearing the news about Travel Click. According to the Civil Aviation Authority, Travel Click has ceased all trading. This announcement was effective as of immediately.
Travel Click has been running for the past five years. Its main office is located in Enfield, north London. Travel Click was best known for offering British travellers luxury holidays to places such as Greece, Cyprus, Vegas and even Dubai. However, with some of the problems that have been happening in these locations, Travel Click’s profits have been suffering. Since it is not as old as some of the other travel companies, it did not have as deep of pockets.
Travel Click said that most of its money, as of late, was coming from putting together great no-frill flights to the Mediterranean. These flights would then be paired with the best discounted hotels on the market. A lot of travellers were finding these deals on sites like Secret Escapes and Travelzoo.
Reports from Travel Click showed that its annual turnover was just around £500,000. In short, this means that it has helped just about 1,000 holidaymakers. This was not enough to keep Travel Click afloat.
Currently, there are a number of Travel Click consumers that are still abroad on holiday. According to travel experts, these consumers should be able to continue their holidays as normal. People who have already booked holidays for later in the year should be able to reclaim all of the money they spent on their holiday packages. Of course, Travel Click will not have to refund too many people, as there are plenty of summer packages that still remain unsold.
David Speakman, who is a member of the Travel Counselors, said that the outlook for the people who purchased flight-only or accommodation-only deals is not clear at this point. The company has made it clear that people who purchased a package deal would receive a refund. Everything else, unfortunately, is still up in the air.
Travel Click is not the first company to go belly up in the UK during this rescission. On top of that, some experts think that it won’t be the last. Unfortunately, a lot of companies have been losing money for years, and their savings are drying up. These companies would need to start turning a profit pretty quickly in order to stay afloat. Although things are starting to turn around, it will still take some time for people to start traveling as much as they used to. Not only that, but the summer travel season will be coming to an end soon. There will be a few months where very little travel is going on. It will not be until the holiday season that more people start traveling again. There will be a few companies that won’t be able to last that long.