December 13 (SeeNews) - Bulgarian tour operator Alfatour said it has filed for bankruptcy due to liquidity issues.
"As a result of the revolutions in Tunisia and Egypt and after the bombings in Turkey, Alfatour has lost its major destinations, which constitute about 80% of our business," the company said in a press release posted on its website.
The tour operator also noted that "the aggressive entry of low-cost airlines to the market" has led to a collapse of its sales on destinations in Europe and the UAE.
Alfatour's customers who have paid in advance for their Christmas and New Year holidays will not lose their money which has been insured with Sofia-based Euroins. The insurance contract covers 1.4 million levs (761,600/717,100 euro), Alfatour added.
(1 euro = 1.95583 levs)