XL Airways UK grounded all flights Friday after its parent company, XL Leisure Group, the UK's third-largest tour operator, was put into administration, leaving an estimated 85,000 passengers stranded abroad. The shutdown was caused by "volatile fuel prices, the economic downturn and [an inability] to obtain further funding," a statement of the joint administrators said on the xl.com website. The administrators added they were not able "to continue trading the business and therefore all ...

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