Photo: ODT filesNew Zealand businesses owed money by STA Travel face uncertainty after the global youth travel agency filed for insolvency. STA's parent company, based in Switzerland, announced on its website it was ceasing trading, saying the pandemic had "brought the travel industry to a standstill". Tourism Holdings Ltd chief executive Grant Webster is among New Zealand operators waiting for payment for last summer's bookings. STA Travel, which originally stood for Student Travel Australia, but was later rebranded Student Travel Association, was founded in 1971, and specialises in long-haul, adventure and student travel. In the UK, where STA Travel has more than 50 shops, about 500 jobs are thought to be at risk as a result of the failure.

Source: Otago Daily Times August 22, 2020 04:41 UTC