| Journal: TWUK | Section: |
| Title: | Issue Date: 10/07/00 |
| Author: | Page Number: 5 |
| Copyright: Other |
Flight Company auditors face action
THE trustees of the Air Travel Trust Fund are taking legal action against the auditors of the now defunct firm The Flight Company.They claim there are alleged indications that the accounts on which The Flight Company secured its licence were inaccurate.
The firm collapsed in 1995 but had a licence for March 1996.
The trustees are claiming from auditors Kounnis Freeman the £5.8m which the fund paid out.
Action over the collapse of The Flight Company was revealed in the annual accounts of the Air Travel Trust.
It also revealed only 17 Air Travel Organiser’s Licences were called in for the year to March – the lowest number for eight years. Some £1.96m was spent repatriating and refunding 10,700 customers due to the failures.
The ATTF remains in the red to the tune of £8.03m.
Helen Simpson, director of the Civil Aviation Authority’s consumer protection group and the Trust’s secretary, said the Government continues to support the fund.