National News

Spanish travel agent goes bankrupt

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A travel agency that has been in business for over half a century has become the first major Spanish travel firm to declare bankruptcy as a direct or indirect result of the current health crisis. Viajes Urbis has its HQ in Palma de Mallorca and nine others across Spain including Benidorm, Malaga and the Canary Islands. They have specialised in sun and beach holidays since the 1960s and have an international network of partners, including many from the UK. They have now filed for bankruptcy, citing an inability to meet payments due to the almost complete closure of the Spanish travel sector.
Market watchers fear that this may be the first of many such cases in the following few weeks, changing the face of the countries travel industry beyond recognition. More traditional agencies such as Urbis, which have offices, staff and other overheads may suffer more than their online counterparts. Many only have a fighting fund to survive nothing more than a short term crisis, being dependant on the lucrative Easter period to compensate for the quiet time between Christmas and Holy Week.

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