MyTravel finance chief steps down

Link: MyTravel destination unknown

The news came as the tour operator was at last able to post final results, after successfully negotiating an extension of its £250m credit deal until the end of 2003.

It announced a loss of £72.8m for the year ending 30 September 2002, compared to a profit of £62.3m the year before.

MyTravel said the year had been difficult because of ‘changed booking patterns’ following September 11 and a weak performance in the UK.

The company announced three profit warnings between May and November, and recently saw the resignation of chief executive Tim Byrne.

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