HOLIDAY group boss David Crossland today admitted the industry had been wrongfooted by the new millennium celebrations.

His comments came as Airtours today reported a doubling of losses in the firm's winter trading period.

Mr Crossland, chairman of the group which employs more than 1,200 at its Helmshore and Accrington offices, said: "The industry as a whole failed to recognise that people would prefer to stay at home and celebrate the new millennium with family and friends rather than travel to foreign destinations."

Losses in the three months to December 31 came in at £45.3 million against a £19.4 million deficit for the same period a year earlier.

However, the group stressed total bookings for this summer were ahead seven per cent against this time last year.

Holiday firms traditionally report heavy losses in the winter months before final payments come in for summer holidays.

Turnover was £751.2 million against £707.8 million last time.

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