TTG understands the authority is looking for some firms to put up extra capital and cash security owing to the stresses of the Covid crisis, with the Air Travel Trust Fund (ATTF) still depleted following the collapse of Thomas Cook in September 2019. Other pressures on businesses’ cash reserves include advance and/or upfront payments for financial failure insurance and merchant acquirers fees.
Atol security 'risks pushing businesses over the edge'
Atol
James Chapple
30 March 2021
Beleaguered travel firms are at risk of being "pushed over the edge" by more stringent financial assurances being sought by the CAA and other stakeholders ahead of the latest round of Atol renewals, experts have warned.
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