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XL holiday firm collapse hits 250,000 tourists

13 September 2008

The holidays of more than quarter of a million people have been wrecked following the collapse of Britain’s third largest tour operator as the crisis engulfing the travel industry intensified.

XL’s failure, which grounded flights around the world, is the biggest to hit the industry in 17 years as soaring oil prices and a collapse in consumer confidence hit home.

More than two dozen carriers have now folded in less than a year, the victims of surging fuel costs and the credit crisis.

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