ATOL (which stands for Air Travel Organiser's Licence
) is a UK financial protection scheme and it protects most air package holidays sold by travel businesses that are based in the UK.
If the firm holds an ATOL (Air Travel Organiser's Licence
), it is responsible for flight arrangements and must either make alternative flights available so the trip can continue or provide a full refund, the CAA said.
MONARCH passengers with Air Travel Organiser's Licence
(Atol) protection should receive refunds within 28 days of making a claim, the Civil Aviation Authority (CAA) has announced.
Those who have not yet departed will receive a full refund if their booking was protected by the Air Travel Organiser's Licence
The low-cost airline and holiday company had a deadline of midnight last night before their Air Travel Organiser's Licence
The company, based in Trinity Road, Aston, had claimed it held a valid Air Travel Organiser's Licence
(ATOL), which protects people who have bought package holidays and flights from member tour operators.
One of the benefits offered by companies selling package holidays is that they hold an Air Travel Organiser's Licence
(ATOL) and therefore must offer protection if they, or the airline you're flying with, goes bust.
An ATOL - Air Travel Organiser's Licence
- protected holiday confirms that the trip is financially protected, even if the travel company or one of its suppliers fails or ceases to operate.
ATOL, which stands for Air Travel Organiser's Licence
, offers peace of mind for travellers and you should receive an ATOL certificate when you book a protected holiday as soon as you pay any money.
Money to cover the lost holidays will come from the company's pounds 758,000 bond under the CAA-run Air Travel Organiser's Licence
The CAA, which called in its Air Travel Organiser's Licence
bond to sort out the problem, say claim forms for those unable to travel will be sent out shortly.
But its finances worsened since, prompting the CAA to refuse to renew its Air Travel Organiser's Licence
. A 24-hour extension ended at midnight Sunday, with owners Greybull Capital refusing to inject funds.