A MAJOR travel operator has fallen into administration after 25 years.
Jetline Travel has called in administrators after providing travellers with package holidays for more than two decades.
The firm entered administration after ceasing trading as an Air Travel Organisers' Licence (ATOL) holder on March 6, Travel Weekly reported.
Joint administrators Neil Bennett, of corporate recovery and insolvency firm Leonard Curtis, and Alan Clark, of financial assistance specialist Carter Clark, were appointed on March 28.
The travel company, which is based in North London, has been trading since 2000 and held an ATOL for 4790 passengers.
It mainly acted as an agency selling cruises and cheap package holidays to Brits.
Reports suggest the firm ceased trading in March with 800 forward bookings and 20 customers overseas after Carnival brands Princess Cruises, Cunard, and Holland America Line announced the cancellation of "some outstanding bookings through Jetline Holidays due to breach of contract".
Meanwhile, it is understood Jetline, which traded under several brands, had failed to pass on customer payments.
Travel Weekly reports it had been selling cruises both as a retailer and at net rates, making itself the principal on some bookings.
However, the Civil Aviation Authority required the firm to operate an "escrow account" that held 70 per cent of ATOL payments and should cover the majority of ATOL refunds.
Jetline director and principal owner Steven Roberts declined to comment to Travel Weekly.
