Suspension of operations by Mouzenidis Travel

In a climate of intense concern due to the openings that Mouzenidis Travel of the Mouzenidis Group has in hotels and suppliers, it became known that it is interrupting the service of its customers and, as it notes in a letter to its partners, is updating operating methods and is talking about starting a process consolidation without giving more details.

Lately, the financial situation of Mouzenidis Travel has been discussed among the people of tourism as the pandemic had reduced its revenues, as there was also a great dependence on tourism from Russia. In fact, a few days ago in an announcement on Facebook it stated that is is suspends the operation of Mouzenidis Travel Greece in Greece – from 18.06 to 26.06.2021 which was caused by technical and legal proceedings.

According to information from market executives, after the death of Boris Mouzenidis, founder, head and key management of the Group, there were thoughts for an extensive restructuring program.

Also, in another letter to its associates, the company stated, among other things, that since the spread of the Covid-19 pandemic from March 2020 before the start of the summer season until today, the company is struggling to restore normal operation. having experienced a 95% drop in turnover.

It is also emphasized that “the struggle to find a solution, as started by the founder of our business Boris Mouzenidis, who passed away last March, continues with the same love, devotion and sense of responsibility by his family and executives. The restoration of the Mouzenidis Travel brand vis-a-vis our associates, our customers and our staff, and the restoration of the solvency that has always characterized this name, is a primary concern of all of us.

In order to be able to continue our struggle and focus on what we must do and with goals and program to restart a smooth operation, we must immediately stop serving our customers, adjust the way we operate and start the process of consolidation of the business. The fact that this year, in the summer of 2021, the markets in which we are active by 90% and mainly the Russian market, continues to apply restrictive measures, not releasing all commercial flights from and to Russia. Aiming at our repayment and settlement of all our debts and being exclusively alone in this fight, unfortunately we have no other choice. We will keep our promise to our late President, exhausting all efforts to settle our obligations, while soon our business will address all creditors with a repayment schedule.

Finally, we would like to note that the other companies of the Mouzenidis group and the network abroad operate normally, continuing their work uninterruptedly, while despite the difficult time, they aim at the strengthening of the Group “.

Corporate History

The Mouzenidis group started its activity in 1995. It is a fully verticalized tourist group with activity in the whole spectrum of the tourist chain. The group operates in 16 countries, mainly in Eastern Europe with significant shares, connects foreign destinations with Greece and cooperates with 1400 hotel units throughout the country.

According to a relevant website, the group consists of the following companies:

-Ellinair, Private airline

-Grekodom, Real estate company

-Ellin Camp, Children’s Camp

-Kriaritsi

-Mouzenidis INTOUR, Travel organization in Russia

-MBG, consulting services

-Family Club Grekoleto

-Cargo CSR, Air Transport and Road Transport Company

-Solun, Greek Orthodox pilgrimage center “SOLUN”

-Bomo Hotels, Network management of hotel units

-Perseas, Security and Privacy Services