London-based cruise and package holiday specialist Jetline Travel has gone into administration after the Civil Aviation Authority (CAA) withdrew its ATOL.
Alan Clark of Carter Clark and Neil Bennett of Leonard Curtis have been appointed as joint administrators.
The CAA announced on 6 March that Jetline Travel had ceased trading as an ATOL holder.
The company, which launched 25 years ago, had been licensed to carry 4,700 passengers a year.
Earlier, several cruise lines in the Carnival group had cancelled forward bookings made by the Barnet-based business, citing an alleged breach of contract.
Jetline Travel, which was a member of the Advantage Travel Partnership, traded under a number of names including Jetline Holidays and Jetline Cruise.
It also had a number of other registered names including Jetline Cruises, Bargain Late Holidays, Best Priced Holidays, Clearsky Holidays, Cruise & More, Deal of the Day Holidays, Deluxe breaks, Elegant Getaways, Great Late Holidays, Green Dot Holidays, Hotdeal Holidays, Travel, Our Best Holidays, Reduced to Clear Holidays and Save on Sun Bookings.
In its last published accounts, for the year to 31 December 2023, the company reported total transactional turnover of £28.1 million, down from £32.1 million a year earlier, and post-tax profit of £569,395, down from £1.1 million.
At the time, its fixed assets were valued at £3.1 million and current assets at £6.3 million, but net liabilities amounted to nearly £70,000.
The company was not an ABTA member when it ceased trading, having left in November 2020 after the Association launched an investigation into its refund policy during COVID.
