Martin spoke to TTG Media about the latest ATOL Reform update from the Civil Aviation Authority (CAA). The document released on 24 January 2023 recommends a hybrid financial protection model of ringfenced client money and bonds or other financial instruments. It also suggests a change to the ATOL Protection Contribution (APC).
Travel Trade Consultancy director Martin Alcock said:
“There’s not a huge amount of new material or anything particularly revelatory in this latest document, but the CAA seem to be in reassurance mode.”
“I think they’re trying to demonstrate that they’ve understood many of the concerns that were raised after their original proposals were published. They seem to be acknowledging the challenges with, for example, a one-size fits all approach, or 100% segregation of monies, or transition arrangements.”
“There still seems to be a long way to go before we’ll get anything more definitive. And there still seems to be a very wide range of options being considered. But overall, I think it’s encouraging.”
Read the full article on TTG Media’s website.
If you need help understanding what this means for your business, get in touch.
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