Travelzest discusses employment terms with CEO

Online travel group Travelzest has denied reports that its chief executive Chris Mottershead and finance director Colin McKinlay have handed in their resignations, but admitted it is talking to them about their employment terms.

The move followed indications that the two have been lined up to move to Tui Travel to run its Canadian operation.

A statement from Travelzest's directors said it had not received letters of resignation from either of the two men. 

As per the information available, in February, Travelzest reported a 15 percent increase in revenue for the year ended 31 October 2008 to £44.3m and 19 percent hike in profit before tax, amortisation and separately disclosed items to £3.8m. But including these one-off charges, the firm made a pre-tax loss of £3.6m for the period. 

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