Tour operator insolvencies predicted after ATOL deadline
CAA requirement 'will' push many over the edge
Analysts monitoring tour operators and charter airlines are predicting a flurry of failures as the 1 October deadline for Air Travel Organisers’ Licences (ATOL) renewals passes.
Under current legislation, tour operators must renew their ATOL licence every year to demonstrate their solvency, cash flow and adherence to Civil Aviation Authority requirements.
It is anticipated that corporate failures are likely from the last week of September, increasing costs from aviation fuel and air passenger duty as well as growing competition from online has left many businesses on the edge and has already pushed hundreds of organisations into administration.
Not alone
Tour operators are not the only companies in the sector facing difficulties and scheduled airline groups are warning of their own burdens.......read more
Source: Insolvency News | Insolvencynews.com
Clinton Cards to go into Administration
