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.
Does Darwin's theory apply to taxation? Colin ponders...
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