That was the message from Daniel Landen, managing director of Protected Trust Services (PTS); Alan Bowen, legal advisor to the Association of Atol Companies; and Steve Endacott, travel industry consultant, speaking during TTG’s latest Business Support Live on Friday (24 April).

Bowen predicted suppliers would be unable to continue to demand advance payment after the current controversy over refunds. “I think suppliers have to grow up and realise we can’t pay them in advance if the consumer won’t pay in advance,” said Bowen.

The panel agreed the current challenges facing the sector could lead to trust accounts gaining popularity, where customers’ money is ring-fenced.

Landen said these models give business owners “flexibility and control”, without being “at the behest of suppliers forcing you into unrealistic payment terms”.

Endacott, meanwhile, called for more formal oversight for airlines, and potentially requiring them to protect clients funds using a trust account model.