Breakaway agent owes IATA $425K

Breakaway agent owes IATA $425K
By admin

The collapse of New South Wales-based Breakaway Fairfield has left the International Air Transport Association (IATA) chasing $425,000, a creditors’ meeting heard today.

The debt was revealed as a potential buyer emerged for the failed agency, which was owned by Joseph Sammut, a shareholder of the Breakaway Travel franchise.

The liquidators declined to reveal the name of the possible buyer, but sources told Travel Today that Jeff Hakim, managing partner of Travel Partners and the founder of TravelManagers, was among the interested parties.

Breakaway Fairfield is part of a company called Rokaca, which also includes Bravo, the air consolidation business.

Glen Wells, chief executive of the Travel Compensation Fund (TCF) said this morning that five more claims had arrived overnight, taking total consumer claims to “in excess of $70,000”.

Chartered accountant and business advisor Hall Chadwick has been appointed liquidators of the firm.

The demise of the company has sparked nervousness in some quarters with Jetset Travelworld Group set to review its commercial relationship with Breakaway Travel franchise. It is unclear if JTG, or its Air Tickets business, is among the list of creditors.

It also emerged that Adrian Caruso, chief executive of consultancy firm TAfastrack, has lodged a statement of claim in the New South Wales local court, alleging the franchise owes $24,000 in unpaid bills.

George Vella, Sammut’s business partner in the Breakaway Travel franchise, told Travel Today yesterday that he would take sole ownership of the franchise and that it was business as usual.

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