Aito financial protection scheme welcomes first members

Aito’s new financial protection scheme is starting to welcome its first members this month following its launch in the summer.

Aito Financial Protection Services Ltd (AFPS), a government-approved scheme, is designed for small and medium-sized tour operators within Aito’s membership.

AFPS director Christina Brazier said: “In this initial phase, AFPS is taking a measured approach to onboarding new members to ensure that the highest of standards are upheld.”

The scheme was created because it was felt Aito members had limited options within existing financial protection frameworks.

It took three years to attain approved body status and join the two other schemes authorised by the Department for Business and Trade under the Package Travel and Linked Travel Arrangements Regulations 2018.

Celebrating the first members joining, Brazier said: “This is an important step forward for Aito and its members.

“Financial protection provides consumers with confidence when booking their holidays.

“With AFPS, we have ensured that AITO’s SME specialist tour operators have access to a scheme that works for them – one that is not only tailored, robust and sustainable, but that has been created by a team which already knows them well.

“As an additional layer of support, we’re also working closely with selected bond providers to give members access to competitive bonding solutions.”

She added: “This is just the beginning for AFPS. As Aito grows its membership over the coming months, we’ll also be working closely with our trusted partners to expand the range of products and services that will support members well into the future.

“These are exciting times for both Aito and its members, both longstanding Aito members and those currently considering membership.”