Operator Cancels Summer Tours Due to Poor Demand | Business | The Moscow Times:
"The low demand for summer vacations to Europe may leave Russian tour operators with grounded planes, a news report said Friday.
One of the oldest Russian tour operators, Ascent Travel, specializes in tours to Croatia and Montenegro but has canceled all its summer programs, causing about 16,000 of its clients who had already bought tours to the Balkan countries to adjust their vacation plans, Kommersant reported.
Yesterday the company's management announced the suspension of all charter programs for the summer after announcing Wednesday that they had seen a 60 percent reduction. The tour operator has already refunded 4.5 million rubles ($138,700) to its clients with departure dates this weekend and it will have to refund at least 16 million more, the company's CEO Yevgeny Sudbin said."
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