Trailfinders will transfer its trust account model and Atol to the TTA to meet its financial protection obligations.

With a turnover of £720 million per annum, the agency chain becomes The Travel Network Group’s largest member.

Gary Lewis, TTNG chief executive, said: “We are absolutely delighted to welcome Trailfinders to the TTA family.

“[Trailfinders chief executive] Toby Kelly approached us some months ago and was impressed with what we offer, how we approach and solve challenges and deliver on the promises we make.”

Lewis hailed Trailfinders chairman and founder, Mike Gooley, and his team’s “entrepreneurial foresight” by setting up their own trust model in 1993 - the same year the TTA was established.

“The trust account they created back then has been the cornerstone of the guarantees and trusted relationships they have built with their clients and suppliers since this time,” Lewis added.

“Their move to TTA will allow them to significantly reduce their Atol Air Passenger Contribution (APC) fees, while supporting their financial protection and compliance requirements.”

The decision sees Trailfinders leave Abta to join the TTA instead. The business has been trading since 1970 and has 34 outlets, 31 in the UK and a further three in Ireland, serving around 445,000 clients a year.

“The values and ethos that Trailfinders drive in their business perfectly matches with ours and we look forward to a long and mutually beneficial relationship,” said Lewis.