Although summer holidays are approaching, travel agencies in Austria are verging on bankruptcy. The Association of Austrian Travel Agencies (OeRV) warns that there could be a wave of bankruptcies among travel agencies hurt by the ongoing virus coronary pandemic.
Association President Joseph Peterleitner said that clients were cancelling some trips and changing in other cases, but few new trips are being purchased. He said travel agencies are having to continue paying high staff costs and rents, while trying to pay back money to unsatisfied customers. Before the crisis broke out, nearly €1bn worth of vacations had been purchases. They now have to pay that money back, since their clients can’t travel.
