Greece :: Leading Online Travel Firm Facing Bankruptcy
If anyone has been using the #Greek online travel booking facility called airfasttickets.gr to let you know that as of this past week end (Sept 12/13 2015) it ceased trading according to Greek media in Athens. No calls were being answered; website down. Classic signs of financial failure.
Airfasttickets was the darling of the online travel booking industry in #Greece.
The travel website started six years ago in Piraeus and enjoyed phenomenal growth. By 2013 its business had grown to €30 million in net income.
Airfasttickets first encountered problems in June last year when the International Air Transport Association forced Airfasttickets temporarily offline owing some €14 million to UK travel firms (and a lot more to German firms and a chunk to the Greek travel industry). The company denied it owed any money.
It looks like the company’s CEO will face court proceedings any day for being indebted to the tune of €50 million.
Other online travel booking rival firms in Greece appear to be trading normally. These include airtickets.gr,
These rival online booking websites had already sued airfasttickets.gr for unfair trading practices by selling air tickets below wholesale prices.