Fifteen Atol holder failures in the year to March 2022 are expected to cost the Air Travel Trust £2.4 million, with another eight since then set to cost the fund a further £5.4 million.
The Air Travel Trust underwrites the Atol scheme (Credit: Andre Taissin / Unsplash)
However, the pot stands at a healthy £139 million, the ATT disclosed on Wednesday (12 July), albeit with it still recovering from the collapse of Thomas Cook and the impact of earlier Covid-era failures.
The ATT pays out when bonds are insufficient to cover the cost of refunds and, if necessary, repatriation. The call on it in the 12 months from April 2021 to March 2022 compares to the £11.4 million the previous 12 months after Thomas Cook collapsed.
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