The global pandemic has signalled the end for another travel company, with STA Travel left unable to pay its bills.
The youth travel advisor has filed for insolvency, advising in a statement that an external administrator will be taking over in the next few days to determine the next steps.
While the parent company STA Travel Holding AG in Switzerland is affected, the company advised local day-to-day operations by STA Travel may continue around the world.
The global magnitude of the pandemic crisis has brought the travel industry to a standstill, including STA Travel, a student and youth travel company, the company said.
Over recent months, the company took decisive measures to secure the business beyond COVID-19.
However, sales have no…
Read the full article at: https://www.travelweekly.com.au/article/sta-travel-files-for-insolvency/
