XL Leisure Group chief executive Phil Wyatt has said the collapse of the company has left the industry facing “the most challenging airlift ever” to repatriate customers stranded abroad.

Speaking at a press conference at the Gatwick Hilton hotel this morning, Wyatt said a total of 90,000 customers were overseas, made up of 67,000 booked through XL companies and about 23,000 through other tour operators using XL aircraft.

About 3,000 customers are thought to have booked directly through XL.com and so will not be protected by the Atol system. 

Wyatt said he was personally devastated by the collapse and knew it would be devastating news for his staff, the majority of whom are now facing redundancy.

“We extend our gratitude to all staff for their dedication to this business, some of whom I have worked with for 15 years. Our thoughts are with them and their families at this upsetting and very difficult time.”

Wyatt said management had made every effort to refinance the group’s debt but was unsuccessful despite “significant interest”.

“Record oil prices and a worsening economic environment have meant our funding requirements have increased and our efforts have been overwhelmed," said Wyatt.

"Facing significant cashflow difficulties, the withdrawal of our lender’s support and having exhausted all avenues for rescuing the business, we felt there was no other option but to apply to place certain companies in the group into administration.”