Financial Times FT.com

New facts behind XL fiasco

By Roger Blitz

Published: September 16 2008 03:00 | Last updated: September 16 2008 03:00

XL's administrators could not use the failed travel company's aircraft to repatriate stranded British holidaymakers because the government would not offer an indemnity agreement.

A joint statement from Kroll and the Civil Aviation Authority said both were keen to use the company's 19 aircraft to fly passengers home after XL collapsed on Friday, with the CAA prepared to leave XL's licences in place to allow flying to continue.

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