CTM delays financials again, terminates UK/Europe chief executive

Corporate Travel Management (CTM) has provided an update on its financial statements, announcing a further delay in finalising its FY25 results, including prior year restatements. The company now expects to provide an update on the timing for finalising these statements in February 2026. CTM is continuing its review process with certain UK customers to determine refund amounts.

In operational news, CTM has entered a financial security arrangement with the International Air Transport Association (IATA) to ensure the continued operation of BSP-related ticketing activities during the finalisation of its financial statements. The company affirmed that it continues to operate at full capacity with no disruption to client services.

Furthermore, CTM announced the immediate termination of Michael Healy, chief executive officer for UK and Europe, for breach of contractual obligations. Mr. Healy was temporarily stood down on November 28, 2025. Eleanor Noonan, global chief operating officer, will continue as interim CEO for CTM UK and Europe while the company considers future leadership arrangements.