Air Travel Trust fund £93.7 million in surplus

Air Travel Trust fund £93.7 million in surplus

The Air Travel Trust fund helped more than 8,000 holidaymakers affected by travel company collapses last year at a cost of £5.6 million.

A total of 15 Atol holders ceased trading in the 2014/15 financial year – the largest being Airliner Limited in January.

The number was up from 13 failures the year before.

Trust funds helped repatriate 527 passengers while the number of protected travellers entitled to a refund totalled 7,785.

The Air Travel Trust fund ended the 12 months to March with a £93.7 million surplus, up from £54.7 million a year earlier.

The Trust’s annual report highlights that 23.8 million holidaymakers were protected by the Atol scheme, a rise from 21.5 million the year before.

The total amount received in Atol Protection Contributions was £56.7 million.

This follows the Civil Aviation Authority’s recent research for its Pack Peace of Mind campaign, which revealed consumer understanding of the Atol scheme is on the rise.

Trust chairman, Michael Medlicott, said: “It’s really encouraging to see that more consumers are protecting their holidays through the Atol scheme.

“This reflects the continued impact of Atol reform, but also the growing understanding consumers have of financial protection and the Atol certificate.

“The trading environment for travel companies has also improved over the last year and we have been pleased to see that there have been relatively few Atol failures.

“The combination of these factors has increased the Air Travel Trust fund’s surplus and ensured it is in a very healthy position going forward.”


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