Link: MyTravel FD steps down
The airline has been hurt by accounting scandals and massive losses in recent years – in 2003 losses were recorded at close to £1bn.
The job cuts are part of a plan to reduce fixed costs, which includes reducing its fleet of aircrafts from 30 planes to 21, The Guardian reported.
In 2002 MyTravel’s accounts were investigated by the Financial Reporting Review Panel after it issued three profit warnings in the space of five months.
In 2003 Kazia Kantor, the architect of the £1.3bn refinancing deal to save the tour operator stepped down as finance director
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The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements