The Civil Aviation Authority is advising holidaymakers issued with Refund Credit Notes (RCNs) during the pandemic to redeem their credit as international travel continues to open up.
The authority has revealed that unspent Atol-protected RCNs totalled £131.7 million as of Wednesday (November 17).
In July 2020, the CAA announced that consumers who accepted RCNs for cancelled Atol-protected holidays would continue to be covered by the Atol scheme. This protection applied to RCNs issued from March 10, 2020.
From midnight on December 19, 2021, Atol holders will no longer be able to issue Atol-protected RCNs for holidays cancelled due to Covid-19.
Travellers who have accepted RCNs between March 10, 2020 and December 19, 2021, are unaffected by this change but the CAA reminded them to redeem RCNs before September 30, 2022.
Consumers can also request a cash refund at any point.
Michael Budge, head of Atol at the UK Civil Aviation Authority, said: “With over £130m of Atol refund credit notes yet to be redeemed, and international travel opening up again, we want to remind consumers to redeem any unused credits to make sure they do not lose out.
“Refund credit notes have been a fantastic tool to reassure consumers and support the industry. The decision to end the scheme reflects the changing of international travel restrictions with significantly increased demand from consumers over recent months due to the opening up of more destinations.”