The association has called on the entire industry to lobby government for changes to the Package Travel Regulations (PTRs), warning that should businesses go under, the taxpayer would be liable for billions of pounds of refunds – which the Atol scheme would not be able to cover.

Mark Tanzer, Abta’s chief executive, appeared on BBC Breakfast at about 6.45am to explain the campaign. 

He said: "I am very aware of the concern and frustration and anger that is out there at the moment. 

"Travel companies don’t want to be in this position and never imagined they would be in this situation. 

"The rules around refunds have been established for a long time about giving a refund within 14 days, but they are just not able to cope with the complete shut down of the travel industry where not only are all the destinations closed so there are multiple claims to refunds but there is no new business to fund them."

He stressed the travel industry are intermediaries who rely on cash back from airlines and suppliers, and said consumers are still owed a refund, travel companies just needs more time.