Travel company Conquest Vacations Inc. has gone out of business, effective immediately, a victim of the global recession, as fewer Canadians plan sunshine vacations and buy travel packages.
The Toronto tour operator said yesterday it regrets the problems caused to its customers by the move, but the shutdown was necessary because of tour industry overcapacity and price wars that have made it difficult to make money.
The abrupt collapse of the privately-owned company isn’t expected to strand Canadian travellers who are already on vacation, and consumers who have booked flights and paid for them are expected to receive full refunds.
Conquest competes with Transat AT of Montreal, Sunwing and Sunquest vacation operators, as well as the packaged travel businesses of WestJet Airlines and Air Canada, the country’s two dominant airlines.
