| Journal: TWUK | Section: |
| Title: | Issue Date: 25/09/00 |
| Author: | Page Number: 80 |
| Copyright: Other |
Air travel holidays trust
Suspension of trading prompts demand for more regulation
A FORMER member of the Air Travel Holidays Trust has called for new regulations on bonding following the news that the association has had to suspend trading.
Although the association had not gone into liquidation at the time TravelWeekly went to press, it had notified members that it has to recoup money. Suppliers and agents have been left out of pocket. In addition, trustee chartered accountants Jemmett Fox has resigned.
Although the Package Travel Regulations recognises trust accounts as a form of bonding, there is nothing forcing them to be insured against mistakes and errors made by the trustees.
Edwin Lobo, owner of Travel Jet in Bournemouth, said: “We have to be bonded or insured but there’s no regulation of the trust associations themselves.”
Before he joined Air Travel Holidays Trust, Lobo was a member of the Nova Travel Group, which went bust in November last year.