London based tour operator Balkan Holidays Ltd has ceased trading cancelling all forward bookings while remaining solvent.
The company specialised in holidays to the Balkan region, Northern Cyprus, Croatia, Montenegro, Slovenia, and Malta since its establishment in 1966. At its height it was flying four weekly from Belfast to Bourgas.
Clients on holiday were unaffected, with refunds promised for cancelled bookings, processed in departure date order.
Direct customers were instructed to contact refunds@balkanholidays.co.uk, while travel agent bookings required contact with the agent.
The LondonCitizens Advice consumer helpline (0808 223 1133) was provided for additional support.
A statement on social media shared: “We regret to inform you that Balkan Holidays Ltd has, as of 24th of April 2025, closed for business. The company remains solvent, but has ceased trading, however, all forward holiday bookings have been cancelled. May we kindly ask for patience as we process the refunds and appreciate your understanding. We will work as fast as we can and will prioritise refunds in departure date order.”
Legacy from the communist era
Balkan focused on offering value vacations in Bulgaria, while also providing walking, golf tours, customized packages, and ski trips and attempted to maintain its position as a traditional budget package operator, with representatives in resorts and two-week all-inclusive. The airline operated five A320s and continues to enjoy robust support from travel agents.
The operator, based in London and state-owned until 1998, managed Conduit Travel until 1991. It released its inaugural brochure and launched a formal charter program with Balkan Bulgarian Airlines in 1969 sending holiday makers to deserted beaches and a handful of hotels built by the communist regime to extract hard currency from western visitors.
In 1973, Balkan obtained an Atol license, with the number 252. They transported 120 passengers to Bulgaria every two weeks using Russian-built aircraft. The initial charter flight, which took place in 1974 on a Boeing 707, included 30 agents and then-Travel Weekly editor Jeff Mills.
In the 1970s, a ski programme was launched, followed by expansions to Turkey, Romania, Cyprus, Greece, Cuba, and the former Yugoslavia. Today, Balkan’s offerings include Slovenia, Croatia, Montenegro, and Romania, in addition to Bulgaria.
The workforce expanded from 20 employees in 1970 to 48 in 1991. Stoyanov joined the company in 1999, following its acquisition by private investors. He remembers, “The business was struggling financially. We had to undertake restructuring and make redundancies. That year, we genuinely questioned if we would survive.” For a while, he lived in an apartment on the office’s fourth floor.
The company established Balkan Holidays Airline (BHAir) in 2001, and between 2001 and 2008, its turnover rose from £7 million to £55 million. At its height in 2005-06, Balkan transported 135,000 passengers from 21 airports.
