Credit Crunch Ruins Holidays
August 25th, 2008 | by abigail |Tour operators going broke
Thousand of U.K Holidays makers could have their holidays ruined, some could even have troubles getting home as the credit crunch hits tour operators. 4 Tour operators have collapsed in the last 4 weeks, bringing the years total to 12 since April.
Holiday makers will be protected and entitled to refunds as the firms are all members of ATOL a financial protection scheme for U.K Tour operators, to check if your travel operators protetected or make a claim visit the Civil Aviation Authority Website.
Sky high fuel prices and strong competition are to blame for the difficult trading conditions being experienced, the Civil Aviation Authority say they expect increasing problems. Roger Mountford, chairman of the Air Travel Trust Fund commented:
“An increase in the number of insolvencies is an indicator of tougher trading conditions. That may be an indication of further deterition later this year.”
Before booking your holiday check the Tour Operator is ATOL Registered on the Civil Aviation Authority Website.
