Customers who obtained credit score notes for package deal holidays cancelled because the begin of the coronavirus pandemic are being urged to make use of them or threat shedding monetary safety.
The Civil Aviation Authority (CAA) mentioned on Monday that nearly £132m value of vouchers issued because the begin of the COVID disaster in March final yr remained unspent.
All are lined by the Atol scheme, run by the CAA, which ensures holders don’t lose out if the corporate they booked with goes bust.
Nevertheless, the refund credit score notes (RCNs) at the moment are being wound down as restrictions on travel have been eased.
The notes had been provided by many journey companies as a substitute for money refunds to scale back the impression of the pandemic on their funds.
They can be utilized in direction of the price of a brand new vacation or exchanged for money.
Journey companies will not be capable of situation Atol-protected RCNs from 20 December and the monetary safety of present vouchers will finish on 30 September subsequent yr, the CAA mentioned.
Head of Atol, Michael Budge, mentioned: “With over £130m of Atol refund credit score notes but to be redeemed, and worldwide journey opening up once more, we wish to remind customers to redeem any unused credit to ensure they don’t lose out.
“Refund credit score notes have been a unbelievable software to reassure customers and help the business.
“The choice to finish the scheme displays the altering of worldwide journey restrictions with considerably elevated demand from customers over current months because of the opening up of extra locations.”