French airline XL collapses

French charter and vacation airline XL as ceased operations and ticket sales.

With a small fleet, a poor reputation as one of the worst in the industry, XL didn’t have many friends.

It’s financial situation has been under pressure for some time but the end of the summer season and a lack of forward bookings, coupled to new rules on how much forward cash from ticket sales has had to be kept in reserve, pushed the company over the edge.

It’s the second tier-2 French airline to go under in recent weeks.