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Page last updated at = 14:52 GMT,=20 Friday, 12 September 2008 15:52 UK

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In quotes: XL collapse

XL, the UK's third largest package holiday company, = has gone=20 into administration. Here's the reaction from the industry = and=20 consumers:=20

Phil Wyatt, XL chairman

"Unfortunately, the huge fuel price hike and the = inability of the=20 business to hedge all its fuel has increased our costs year = on year=20 by over $80m.=20

So where many people have been making hay with high oil = prices,=20 this is the repercussions of that hay - 1,700 people = potentially out=20 of work today in the UK.=20

We've made every effort - myself and my fellow directors = - to=20 find new funding for the business, and it's a very sad day = for me=20 personally. I am totally devastated."=20

"The companies entered into administration having = suffered as a=20 result of volatile fuel prices, the economic downturn, and = were=20 unable to obtain further funding.=20

The joint administrators cannot continue trading the = business and=20 therefore all flights operated by the companies have been=20 immediately cancelled and the aircraft grounded."=20

DAVID, XL PILOT

"It's a great shame, I had no idea it was really coming. = I had a=20 text a couple of hours ago from somebody who'd been sort of = reading=20 the news, and I had no idea.=20

I was actually supposed to operate a flight later today, = so of=20 course I'm now obviously concerned for everybody who won't = be=20 travelling, and obviously I heard people down in Gatwick = who've just=20 arrived for their morning flights, and I think it's a real = great=20 shame for everyone concerned."=20

JOHN STRICKLAND, ANALYST, JLS = CONSULTING

"They (Civil Aviation Authority) will be looking to other = airlines operating in the same market as XL Airways to = provide=20 seats.=20

Now that's easier said than done because we're not yet = out of the=20 peak travel season, so XL's flights themselves would have = been=20 running pretty well at full capacity and so will most of = those=20 operated by their rivals. "=20

COLIN, XL CUSTOMER

"I was walking here this morning past the signs for the = XL=20 holiday company, and one of them said 'your holiday starts = here',=20 and I suddenly thought, well, maybe it stops here as well."=20

CIVIL AVIATION AUTHORITY

"The Civil Aviation Authority (CAA) and the travel = industry are=20 working together to protect customers of the XL Leisure = Group UK=20 after it ceased trading.=20

The CAA estimates that there are 50,000 tour operator = customers=20 of XLUK abroad, and a further 10,000 abroad with XL Airways, = and=20 25,000 with other tour operators who shared the XL flights.=20

A further 200,000 customers have advance bookings with = the XL=20 tour operators."=20

DAVID CLOVER, ATOL

"With XL Airways no longer operating we are having to = bring in=20 substitute aircraft to bring people home.=20

We ask people to be patient while we organise that ... = bear with=20 us, this is a huge failure."=20

STRAUMUR BANK, XL's LENDER

"Straumur-Burdaras Investment Bank has had a good lending = relationship with XL for a number of years and deeply = regrets this=20 recent development.=20

An agreement has been reached whereby Straumur has = acquired XL's=20 German and French subsidiaries, which Straumur considers to = be=20 financially viable and sustainable businesses.=20

They will continue operations as separate commercial = entities."=20

SPENCER DAVIS, XL EMPLOYEE

"It's tough and it's probably not going to get any = easier, but we=20 just have to get on with it. It's just the way that the = airline=20 industry is going at the moment.=20

We are now going to be competing for the same jobs with = many=20 other staff who have also been put out of work.=20

There are a lot of people who woke up this morning = without work."=20

ROBERT SPURGEON, HOLIDAYMAKER

"We're meant to be staying in a timeshare so it's just = waiting=20 for us. I booked the flights through XL directly on my debit = card so=20 it doesn't look like I'm going to get anything back.=20

We've not been told anything but my wife's been quoted = =A32,000 for=20 alternative flights."=20

THOMAS COOK

"Customers who have booked with Thomas Cook can rest = assured that=20 their money is safe and we will do all we can to minimise = disruption=20 to their holiday plans.=20

Today's news does highlight how important it is for = holidaymakers=20 to book their travel through ATOL-bonded travel companies in = order=20 for them to be totally protected in these situations."=20

JOHN, XL CUSTOMER

"I'm just infuriated - it's such short notice. Nine = months I've=20 waited for this, and they then wait until we get to the = airport to=20 tell me I can't go anywhere. Now I'm not going to get my = holiday=20 back this year."=20

PETER LONG, CHIEF EXECUTIVE, TUI = TRAVEL

"In the current environment where the price of oil has = increased=20 substantially, we are continuously seeing airlines with less = than=20 robust business models failing.=20

Unfortunately, many people believe that they will be = protected=20 when this arises and this is not the case.=20

Scheduled airlines, low cost airlines and online = intermediaries,=20 unlike tour operators, are not bonded which leaves their = customers=20 stranded or unable to get their money back in the event of = failure.=20

It is time that the Government realised that there needs = to be a=20 level playing field for all providers of overseas leisure = travel=20 arrangements."=20

JULIAN CASTLE, XL CUSTOMER

"We arrived at our check-in desk this morning and were = just=20 handed a letter telling us what had happened.=20

Why they have to leave it to the early hours of the = morning to=20 announce they're going into liquidation is beyond me. We're = very=20 disappointed and very annoyed."

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