14-Sep-2010 12:55 PM

Goldtrail Travel under investigation before going into administration

Goldtrail Travel, which went into administration in Jul-2010, was under investigation by the UK Civil Aviation Authority (CAA) in May-2010, under which CAA reviewed the company’s invoicing and APC (customer protection payments) policies (telegraph.co.uk, 13-Sep-2010). The CAA then demanded Goldtrail pay a bond worth 10-15% of its turnover, which it was unable to pay. Former owner, Kadir Aydin, claims the inquiry contributed to Goldtrail’s demise, as it “distracted” executives.