OWNERS Abroad
founder Roger Allard is throwing a lifeline to failing travel businesses with a
new company that takes its name from cult TV show Thunderbirds.
Both ABTA and the
Civil Aviation Authority have given top-level backing to the industry veteran’s
latest venture – cheekily dubbed International Rescue – believing it could
prevent embarrassing tour operator and agent collapses draining the
overstretched Air Travel Trust.
A special
investigation by Travel Weekly has revealed Allard and his team have already
prevented at least four big name failures during the last year working on an ad
hoc basis. One of these was the radical restructure of award-winning agency
Gemstone Travel, which ceased trading and lost its ABTA membership before being
surprisingly resurrected late last year (Travel Weekly December 3 2001).
Another is believed to have been a household name operator.
Despite the fact
Allard is deliberately keeping his company’s activities low-key, International
Rescue is now actively promoting its unique service. Top of the hit list are
businesses struggling in the wake of September 11 and this summer’s
overcapacity.
“I don’t want to
sound arrogant, but if we can’t save a company, the chances are it is beyond
hope,” said Allard. “We prefer to work on a fee basis – getting in, giving
advice, and getting out – but we will take a stake in the business if we can’t
be paid.”
Allard has
combined his tour operating expertise with the knowledge of pals Chris Photi
and Arthur Goldberg. Photi – a partner in chartered accountants White Hart
Associates – is renowned as the travel industry’s leading authority in
licensing and bonding. Meanwhile, Goldberg is a senior underwriter for
insurance giant Trenwick and an expert in managing travel industry risk.
The idea has been backed by major City institutions which guarantee the
vast majority of ATOL bonds. They have agreed to work with International Rescue
to protect themselves against expensive failures. ABTA head of finance Mike
Monk said the association was keen to work with Allard. “We are talking with
International Rescue and keen for them to be involved,” he said. “We want
consumers to be protected and their interests are best served if companies keep
on trading. The people involved are experienced and I have every confidence in
them.”