On its official website, XL stated that they are not able to cope up from the economic downturn, volatile fuel prices and low funding. Its companies include The Really Great Holiday and Kosmar Villa Holidays.

Alastair Beveridge, Simon Appell, Nick Cropper and Stuart Mackellar were appointed the joint administrators. XL said that they cannot continue trading and hence, all flights had been cancelled immediately and the aircraft were also grounded. Further, they said that the joint administrators might not be able to continue trading this business or operating the aircraft.

XL advised all those passengers who didn’t begin their journeys yet, to make other possible arrangements. Those who booked package holidays with XL will have reimbursed the cost of the return journey through a scheme of the Civil Aviation Authority of Britain, but the passengers who booked flights only do not come under this scheme.

Europe’s largest travel company, TUI Travel, said that it will help XL’s customers struck at different places abroad in coming back home to the UK. Peter Long, the CEO of TUI Travel, criticized the unpredictability in protection for such holiday makers. He said that although they would help wherever possible, it is for the government to realize that a level field is to be provided for all players in this market. He said that most holiday makers think that they will get the necessary protection if any problem arises, but this does not usually happen.

This week, Europe’s largest independent medium-haul charter company, Palma-based Futura International, also went into administration, as a result of which British firm Seguro Holidays had to cease operations.

XL had gone through a management takeover in recent years. The shares in TUI were 4.1% higher at 230-3/4 pence at 3:05am EDT, and Thomas Cookwas up by 3.5% to 243-1/4 pence, with investors expecting them to take advantage of the reduced competition in the market.

Tourists and people looking for business for sale in Majorca can rest easy. We have not had any such attacks on the island of Mallorca

Two small bombs exploded in a Malaga holiday resort on Sunday morning. The police responded aptly to a bomb warning and hence, no one was hurt in these blasts.

Yesterday, Ramon Socias, the central government delegate of the Balearics, said that there was not much damage and the people need not worry. The police had evacuated a beach just in time before the first bomb exploded at nearly 1 o’clock at noon and then, they moved people in thousands out of a port in Benalmadena just before the second bomb blast occurred at 3 in the evening. The incident apparently triggered chaos on practically, the busiest weekend in Spain.

The spokesperson from central government office in Malaga said that two bombs had exploded, one in Benalmadena and the other on Guadalmar beach. The spokesperson also mentioned that since the devices were not very powerful, they did not cause major injuries or serious damage. Further, the spokesperson denied the reports claiming Basque separatist rebels ETA’s involvement in these attacks.

ETA exploded four such bombs last month at some famous resorts in the northern parts of the country, beginning its summer bombing campaign, which it conducts every year, to disturb the proper functioning of one of the vital segments of the economy of Spain.

A ministry spokesman said that in search of a third explosive device, the police sealed off Spain’s main coast road.

In response to these incidents, The Foreign and Commonwealth Office put up a travel advice yesterday informing all British visitors that the higher authorities in Spanish are taking appropriate measures to avoid such terrorist attacks and are trying to protect the tourists. They also stated that similar attempts by terrorists, real or hoax, can be expected in the future and hence, they need to be vigilant and should follow the rules and instructions of the police and other local authorities.

Socias said that the security levels in the Balearics are very high and also that National Police, National Intelligence centre and the Guardia Civil are working rigorously to prevent any terrorist attacks in Spain.
Also, revealing some of the information, Socias said that exhaustive checks at entry and exit ports in the Balearics would make it very difficult for the terrorists to access the region. He said that though some of these checks may be lengthy, they are a part of the huge operation which is designed to provide security of life and property to the residents and visitors of Balearics. He added that since the royal family of Spain is on a holiday at Majorca, and that being the only place where an attempt to assassinate the king had been made, the security levels are maximum on the island.

Alfonso Meaurio, the director, Majorcan Hotel Federation, said there is no reason to worry. He added that, just because Basque separatist group ETA organizes a summer campaign every year, there is no reason to expect that the same will happen here in Malaga. Nearly 400 additional National Police and Guardia Civil members, including dog handlers and bomb squad units, were sent to the Balearics in order to increase the security levels this summer. They will also assist the existing forces prevent any further incidents of crime as well as drug trafficking.