MyTravel, the struggling tour operator, could have to shell out more than twice its stock market value in fees to bondholders and advisers, as a result of refinancing its massive £1.3bn (€1.86bn) debt pile earlier this year.

The hefty costs could reach £135.2m if stringent share performance targets are met at MyTravel, led by chief executive Peter McHugh. The London listed tour operator is currently capitalised at £50.6m and its shares have fallen in value by more than 66% so far this year.