Cooper’s comments come after the CAA last week confirmed it was in talks with the government over extending the deadline for issuing new RCNs beyond 31 March, and their expiry date.
RCNs were introduced last year as a contingency measure, allowing firms to effectively defer cash refunds as pipeline monies fail to flow quickly back down to travel sellers and onwards to consumers.
It was feared that without widespread adoption of RCNs, many more travel firms would have been placed under financial pressures likely to have resulted in their failure owing to the statutory requirement under package travel rules to refund customers within 14 days.
