Bankruptcies of travel companies in Japan were just two in January 2021, thanks to the government’s supports
According to Tokyo Shoko Research (TSR), bankruptcies of travel companies in Japan were just two in January 2021, fewer bankruptcies than a year ago for three months in row, probably because of effective financial supports by the government and banks amid the pandemic.
Nippon Express Travel, founded in 1955 in Japan, will be dissolved in the end of March, despite no debt
Nippon Express Travel established in 1955 will be dissolved in the end of this coming March despite no debt because of the worsening environment surrounding the travel industry.
48 major travel companies in Japan still struggled with a 78.9% reduction in sales in September 2020, despite the domestic travel was boosted by the campaign
Sales of 48 major travel companies unprecedentedly reduced by 78.9% year on year to 91.9 billion JPY in total in September 2020, and sales of domestic travel were down by 62.8% to 88.4 billion JPY, however, the monthly reduction rate improved from 76.3% in August.
KNT-CT, one of the leading travel agents in Japan, gives up its package brands and closes two-thirds of retail stores
KNT-CT Holdings has decided to carry out drastic business reform by giving up long-history package tour brands 'Mate' and 'Holiday,' closing two-thirds of retail stores nationwide and cutting one-third of all 7,000 employees to survive the current crisis.