One of the largest Russian tour operators on the Greek market – Labirint – officially declared bankruptcy in Moscow yesterday. Labirint accrued debt from the money owed by its parent company to Orenburg Airlines, a subsidiary of Aeroflot.

Debt has led to Orenburg Airlines canceling over 30 flights with Ideal Tour’s customers that were scheduled to fly to various destinations around Greece, Turkey, Spain and Bulgaria over the next three days. In Greece, 8,000 to 10,000 Labirint clients are believed to be scattered around hotels on Crete, Rhodes, Kos and Halkidiki. All up, 20,000 Russian tourists are affected including those already in Greece and those whose dreams of a holiday in Greece have been shattered.

The Greek Ministry of Tourism and National Tourism Organization (EOT) are carefully monitoring developments and are closely collaborating with the Greek Foreign Ministry for the smooth handling of the problems caused to the Russian tourists and the Greek travel industry as a result of  the bankruptcy.

The Association of Greek Tourism Enterprises (SETE) was swift to swing into action following the official announcement of bankruptcy and issued advice to Greek hoteliers that are hosting customers of the Russian tour operator to continue to offer hospitality until a solution is found. The association wants to ensure that Greece’s positive image is kept regardless of the problems caused by the bankruptcy. The SETE announcement states: There will soon be clarification on the method of payment or on the insurance coverage in regards to the remaining cost of their bookings.”

Many credible tour operators have been exposed by the news and are left answerable to their clients.

Labirint’s partner in Greece is Le Grand Group of Companies. Together they had deals with many hotels around Crete, Rhodes, Kos, Zante, Corfu and Halkidiki. The Russian tour operator also collaborated with Aegean Airlines.

Last year alone, 260,000 Russian tourists were brought to Crete, Rhodes, Kos and Corfu by Le Grand and Labirint.

Labirint is the fourth Russian tour operator to go bust recently, following Rosa Vetrov Mir, Neva Company and Expotour that ceased operations in July.

The unexpected came as a shock to the Greek hotel industry. “We learnt from the news from the media and had no prior warning,” says Le Grand Managing Director Fotoula Sapounaki. “I can say that until yesterday we were serving arrivals of the said company.”