The CAA confirmed on Monday (5 October) some 995 of the 1,261 Atols that expired on 30 September have been renewed, with a further 90 (as of 1 October) still subject to the licensing process.

It also intimated it was actively considering how it could "work with the industry to improve financial resilience".

Overall, 176 Atol holders decided not to apply to renew their licences this September, up significantly from 51 in 2019 when the process was delayed by almost a month following the collapse of Thomas Cook and from 117 in 2018.

In total, there are now 1,732 Atol holders, combining those that renew in the autumn (September) and spring (March).

Michael Budge, CAA head of Atol licensing, said: “We understand the huge pressure travel businesses are under at this time and would like to thank them for positively engaging with us to meet the required conditions for their Atol renewal.

“In the interest of protecting consumers, we continuously engage with and closely monitor Atol holders throughout the period covered by their licence, requesting further information where necessary.”

The CAA added it keeps its regulatory models under review, including how it manages the Atol scheme, and confirmed "in light of recent events" it was looking at ways to work with the industry "to improve financial resilience for the benefit of both customers and travel businesses".