STAFF working for crisis-hit holiday company MyTravel today appealed for assurances over their future following last week's disastrous profits warning and share price collapse.

The GMB Union represents a large proportion of call-centre staff which work in the firm's centres in Accrington, Rochdale and Manchester.

Union organiser Neil Holden says his officials have been inundated with calls from concerned staff asking what will happen to them.

MyTravel's fortunes have nosedived after a shock profits warning last Thursday, the third in five months and the second in just 18 days.

The group, which also has a base in Helmshore, saw its shares tumble after cutting its profits targets by another £20 million and warning of a potential £30 million accounting charge. Founder David Crossland, a former Blackburn Rovers player, is back at the helm in a bid to steady the business after announcing his retirement from the front line earlier this year.

GMB organiser Neil Holden said: "I am being asked by our members to assist in securing their future at MyTravel.

"I am very concerned that as news worsens daily, massive job losses could be a possibility.

"We welcome open dialogue with the company and support the company in regaining consumer confidence.

"We are concerned that the company's lack of openness along with media comparisons to the Enron scandal can do nothing to help the situation."

He added: "Although we are not recognised by MyTravel, we are very concerned about what is going to happen to our members."

Speculation over what might happen to MyTravel prompted the firm to release a statement from the Association of British Travel Agents' convention in Cairo yesterday.

It said MyTravel was both profitable and "fully compliant" with obligations under its credit facilities and said it had received overwhelming support from travel agents.

But speculation continued over whether MyTravel could cope with the burden of debts and liabilities estimated to total £1.5 billion.

Analysts said a looming threat for the group was a £400 million bond it has to place with the Civil Aviation Authority to protect holidaymakers.

The firm has so far refused to comment on whether the firm is in takeover talks.

A spokeswoman said: "MyTravel is a large and profitable group. It has committed credit facilities available to it and is fully compliant with its obligations under those facilities.

"In addition, MyTravel is fully bonded under CAA and ABTA regulations. Customers can book with confidence."

The group, which runs the Panorama, Jetset, Cresta, Airtours Holidays and Manos brands, has insisted holidaymakers are sticking by the group.

MyTravel's share price plunged 62per cent on Thursday and a further 37 per cent on Friday.

The group's market value is now just £89 million, compared with a high of £1.4 billion in early January.

At the close of trading yesterday, MyTravel's share price had recovered slightly, up 4.17 per cent on Friday at 18.75p. Its 2002 high was 282p.