History
The company began as Excel Airways Group. It was bought by the Icelandic Avion Group in November 2004, previously being owned by the Icelandic Flugfelagid Atlanta HF. It bought Kosmar Village Holidays in May 2006. In October 2006, there was a $450m management buyout of the company, although the Avion Group retained 49% of the company. It became XL Leisure Group on 22 December 2006. The French subsidiary used to be Star Airlines and the German subsidiary was called Star Europe. At its height, it flew from 12 UK airports. The Irish airline began in May 2006.
The Group also included Kosmar Villa Holidays, which was a British holiday company specialising in holidays to Greece and Turkey. It was founded by Kostas Markou in 1981, taking holidaymakers to his home-town of Tolon, Peloponese. Kosmar continued to travel to Tolon, but its programme also grew to feature a large number of destinations across the Mediterranean and the Middle East. The company was acquired by the XL Leisure Group, and used XL Airways UK, Astraeus Airlines and Air Malta for its flights. On flights to Crete and Rhodes, Kosmar gave the option to fly with British Airways. On 10 April 2006, Excel Airways, representing the Avion Group, purchased Kosmar Villa Holidays plc for an undisclosed sum. The founder Kostas Markou stayed with the company.
In early June 2007, Kosmar removed Bulgaria, Majorca, Gran Canaria, Lanzarote, Tenerife and The Algarve from its website. It was thought that Kosmar was to revert back to being a specialist to more 'exotic' destinations.
Read more about this topic: XL Leisure Group
Famous quotes containing the word history:
“My good friends, this is the second time in our history that there has come back from Germany to Downing Street peace with honour. I believe it is peace for our time. We thank you from the bottom of our hearts. And now I recommend you to go home and sleep quietly in your beds.”
—Neville Chamberlain (1869–1940)
“The history of men’s opposition to women’s emancipation is more interesting perhaps than the story of that emancipation itself.”
—Virginia Woolf (1882–1941)
“To history therefore I must refer for answer, in which it would be an unhappy passage indeed, which should shew by what fatal indulgence of subordinate views and passions, a contest for an atom had defeated well founded prospects of giving liberty to half the globe.”
—Thomas Jefferson (1743–1826)