ATOL Reform Gains Momentum but No Date in Sight

The ATOL reform is now years in the making, but according to comments within the industry, the momentum is once again beginning to pick up. No date is set for the ATOL reform to conclude, but the people behind it “remained committed”. However, changes in the UK could delay progress again and put travel businesses in limbo waiting for further update.  

According to comment, the general election in the UK is the culprit that could push progress on the ATOL reform back again. Many industry professionals are sceptical, especially with no dates set in place.

The Latest ATOL Reform Update

Michael Budge, the CAA head of ATOL, said, “We’re working hard with DfT colleagues. There is renewed energy at the DfT, renewed momentum. They want to get this done. 

“There could be a change in the government and in the secretary of state. But it doesn’t mean a new government will come in and put this in a black box. The department officials are highly engaged. 

“A general election may affect when this happens, but it won’t mean a change of direction.” 

“It’s important we get this right,” he emphasised, “Our role is to ensure the scheme protects people and enables business. 

“We’re not looking to change what the consumer gets. This is about ensuring sustainability for the industry and consumer. We’ve seen the way some businesses fund their operations. 

“I’m not going to be drawn on when we’ll issue something, but we’re committed to doing something. We understand the need for clarity for businesses.” 

Some are hopeful that this update indicates progress. Despite this, to many travel experts, this update is lacklustre and continues to leave things up in the air.

Why PTS Membership is Vital During the Reform

Fortunately, your business doesn’t have to be affected by this indecision. Regardless of the changes set to come for the travel industry, your business can stay prepared and flexible as a member of Protected Trust Services (PTS).  

We know the travel industry is tricky. The climate of travel is constantly changing and as a travel business, you must adapt. But with a PTS membership, adapting can still be a breeze. Whatever happens, PTS members are prepared with market-leading financial protection, constantly evolving technology, and access to all the tools to help your business grow, whatever the climate.  

So, if you would like to learn about how your consumers’ monies are protected with Protected Trust Services (PTS) and how we support excellent travel businesses, check out our pages. Or you can contact the lovely PTS team by calling 0207 190 9988 or emailing us at ask@protectedtrustservices.com.