//
XL's 21 airplanes were grounded this morning, stranding over 85,000 passengers, most of whom will be flown home by the Air Travel Organisers' Licensing body.
In a statement, XL - the third largest operator in the UK - said the joint administrators could not carry on trading, reported the Times.
"Going forward, the joint administrators are unlikely to be able to trade the business or operate the aircraft. All passengers who have yet to commence their travel should make alternative arrangements," it said.
XL trades under several brands, all of which are affected, including XL Airways, Excel Aviation, Freedom Flights and The Really Great Holiday Company.
The collapse follows that of the Canadian budget airline Zoom last month, which left 4,500 passengers stranded and another 60,000 with unusable tickets.
Seguro Travel also announced yesterday (September 11th) it was going into administration.
Learn more about stocks and shares by attending a free trading seminar with Knowledge to Action.
