Jetstar Airways Pty Ltd, operating as Jetstar, is an Australian low-cost airline headquartered in Melbourne. It is a wholly owned subsidiary of Qantas, created in response to the threat posed by airline Virgin Australia. Jetstar is part of Qantas' two brand strategy of having Qantas Airways for the premium full-service market and Jetstar for the low-cost market. Jetstar carries 8.5% of all passengers travelling in and out of Australia.
Crystal Cruises is a cruise line now headquartered in Downers Grove, Illinois, USA. It was founded in 1988 by Japanese shipping company Nippon Yusen Kaisha, and sold to Hong Kong-headquartered conglomerate Genting Hong Kong in 2015. Following insolvency in 2022, the Crystal Cruises brand and two cruise ships were bought by A&K Travel Group, to recommence operations in 2023. The new company has announced major refurbishments and enhancements for the two ships in a Fincantieri shipyard in Trieste, Italy including increasing the number of butler suites and reducing guest capacity, with plans to resume service in June 2023 with shore excursions curated by Abercrombie & Kent.
Liquidation is the process in accounting by which a company is brought to an end in Canada, United Kingdom, United States, Ireland, Australia, New Zealand, Italy, and many other countries. The assets and property of the company are redistributed. Liquidation is also sometimes referred to as winding-up or dissolution, although dissolution technically refers to the last stage of liquidation. The process of liquidation also arises when customs, an authority or agency in a country responsible for collecting and safeguarding customs duties, determines the final computation or ascertainment of the duties or drawback accruing on an entry.
A travel agency is a private retailer or public service that provides travel and tourism-related services to the general public on behalf of accommodation or travel suppliers to offer different kinds of travelling packages for each destination. Travel agencies can provide outdoor recreation, arranging logistics for luggage and medical items delivery for travellers upon request, public transport timetables, car rentals, and bureau de change services. Travel agencies can also serve as general sales agents for airlines that do not have offices in a specific region. A travel agency's main function is to act as an agent, selling travel products and services on behalf of a supplier. They are also called Travel Advisors. They do not keep inventory in-hand unless they have pre-booked hotel rooms or cabins on a cruise ship for a group travel event such as a wedding, honeymoon, or other group event.
Royal Tongan Airlines was the national airline of Tonga until liquidation in 2004. It was a government agency and operated interisland services and international routes.
In accounting, insolvency is the state of being unable to pay the debts, by a person or company (debtor), at maturity; those in a state of insolvency are said to be insolvent. There are two forms: cash-flow insolvency and balance-sheet insolvency.
ABTA Ltd, operating as ABTA – The Travel Association and formerly known as the Association of British Travel Agents, is a trade association for tour operators and travel agents in the United Kingdom.
In law, a liquidator is the officer appointed when a company goes into winding-up or liquidation who has responsibility for collecting in all of the assets under such circumstances of the company and settling all claims against the company before putting the company into dissolution. Liquidator is a person officially appointed to 'liquidate' a company or firm. Their duty is to ascertain and settle the liabilities of a company or a firm. If there are any surplus, then those are distributed to the contributories.
Virgin Australia Holdings Limited is the holding company that owns and operates Virgin Australia, Virgin Australia International Airlines and Virgin Australia Regional Airlines. It previously operated Pacific Blue Airlines, Tigerair Australia and joint-venture airline Polynesian Blue which were absorbed into Virgin Australia in December 2011. Its head office is located in South Bank, Brisbane. After being placed in administration in April 2020, it was purchased by Bain Capital in August 2020.
As a legal concept, administration is a procedure under the insolvency laws of a number of common law jurisdictions, similar to bankruptcy in the United States. It functions as a rescue mechanism for insolvent entities and allows them to carry on running their business. The process – in the United Kingdom colloquially called being "under administration" – is an alternative to liquidation or may be a precursor to it. Administration is commenced by an administration order.
Thomas Cook Group plc was a global travel group, headquartered in the United Kingdom and listed on the London Stock Exchange from its formation on 19 June 2007 by the merger of Thomas Cook AG — successor to Thomas Cook & Son — and MyTravel Group until 23 September 2019, when it went into compulsory liquidation. The group operated as a tour operator and airline, and also operated travel agencies in Europe. At the time of the group's collapse, approximately 21,000 worldwide employees were left without jobs and 600,000 customers were left abroad, triggering the UK's largest peacetime repatriation.
Kuoni Travel is a tourism company, operating various services including charter and scheduled passenger airlines, package holidays, cruise lines, and hotels in destinations around the world across nine different geographic regions.
Kleenmaid is an Australian owned domestic appliance brand that was originally established in 1984. In 2009 it was acquired by the private equity group Compass Capital Partners who relaunched it to the public in 2012 with a newly developed Black Krystal range of appliances and a new logo.
Flight Centre Travel Group (FCTG) is an Australian travel agency. It was founded in 1982, and is headquartered in Brisbane, Australia.
Australian insolvency law regulates the position of companies which are in financial distress and are unable to pay or provide for all of their debts or other obligations, and matters ancillary to and arising from financial distress. The law in this area is principally governed by the Corporations Act 2001. Under Australian law, the term insolvency is usually used with reference to companies, and bankruptcy is used in relation to individuals. Insolvency law in Australia tries to seek an equitable balance between the competing interests of debtors, creditors and the wider community when debtors are unable to meet their financial obligations. The aim of the legislative provisions is to provide:
Jet2holidays is a British package holiday provider and tour operator. It was formed in 2007 as a subsidiary of Dart Group PLC, and a sister to Jet2.com, the third-largest scheduled airline in the UK. As of 2023 Jet2holidays is the largest tour operator in the United Kingdom, by ATOL licenses in 2023.
Helloworld Travel is an Australian-based travel agency specialising in Retail, Corporate and Wholesale travel products and packages. Helloworld Travel is the retail travel business of Helloworld Travel Limited (HLO), with fully branded travel agencies and associate agents located throughout Australia and New Zealand.
Global Work & Travel is an Australian travel company. The company was founded in 2008, and provides working holiday, teaching abroad, volunteer, au pair, and student internship packages and helps travellers with travel insurance, flights, and travel visas. With three offices in Surfers Paradise, Vancouver and London, it operates primarily in five countries: Australia, Canada, New Zealand, the United Kingdom, and the United States. As of 2018, the company had organised gap-year trips for over 40,000 people.
Thomas Cook Tourism (UK) Company Limited, known as Thomas Cook UK, is an Anglo-Chinese package holiday provider which offers 'Flight + Hotel' packages and Hotel only bookings. The company was launched in 2019, when Chinese firm Fosun International purchased the brand from the insolvent Thomas Cook Group, and began trading in September 2020.
The global COVID-19 pandemic had a significant impact on the New Zealand economy. New Zealand has a mixed economy – a free market with some state ownership and control. In mid-March 2020, the New Zealand Government imposed a four-tier alert level system, which placed much of the country's economy into lockdown with the exception of "essential services" such as supermarkets. Due to the success of the Government's elimination strategy, lockdown restrictions on various economic activities were progressively lifted between April and June 2020.
