Air Travel Trust has published its 2006 Report and Accounts which shows that 25 ATOL companies failed in the year to 31 March 2006. This was 11 more than last year. Eleven failures involved a call on the…
Air Travel Trust has published its 2006 Report and Accounts which shows that 25 ATOL companies failed in the year to 31 March 2006. This was 11 more than last year. Eleven failures involved a call on the Trust causing expenditure of £4,643,000, an increase of more than £4 million over the previous year.
The Trust has no income and interest charges were £602,000. The year-end deficit increased to £15,822,418.
The Civil Aviation Bill is expected to gain Royal Assent later this year. The Trustees welcome the powers this would give to introduce a levy to replenish the Fund.
Click here to see a copy of the Air Travel Trust Report.
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