THOUSANDS of people could find themselves stranded abroad after the UK's third largest package holiday group went into administration this morning.

XL Leisure Group, which operates XL airlines, flies to 50 destinations, mainly in the Mediterranean, from bases at Manchester, Gatwick and Glasgow airports.

All its flights have now been cancelled and its aircraft grounded.

In a statement on its website, the group said it had been hit by rising fuel costs and the credit crunch.

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