STA Travel Group Has Gone Into Voluntary Administration After Its Parent Company Filed For Insolvency

Travel agent STA Travel Group has gone into voluntary administration. It comes after the collapse of the travel group’s Swiss-based parent company STA Travel Holding AG, which filed for insolvency, Business Insider Australia reported. STA operates online travel agent services and 27 outlets in Australia, with Deloitte’s Jason Tracy and Timothy Norman appointed as administrators on August 21. In a statement to Business Insider Australia, Tracy said “COVID-19 has brought the travel industry in Australia close to a standstill.” “The collapse of STA Travel in Australia and NZ is certainly related to trading conditions caused by the pandemic, and has been preceded by its Swiss holding company recently filing for insolvency,” he said. Read more