Travel Republic has completed making £1 million worth of refunds and rebookings for customers who lost out from Flyglobespan’s failure in December.

Managing director Kane Pirie said the online travel agent was able to make the payments to all affected customers thanks to its free Total Financial Protection scheme.

He added: “The value of the bookings involved was circa £1 million but we are delighted to have sorted out the refunds promptly.

“There is no excuse for customers having to wait for extended periods of time in these circumstances. They are distressed enough as it is and want to sort their new arrangements out without delay.

“Customers were over the moon; many thought they had lost the money and were delighted to swiftly receive a full refund.”

Flyglobespan collapsed last year with 4,500 customers overseas and a further 100,000 forward bookings. Its failure hit Scottish travel agents particularly hard due to the large number of routes it handled out of the country.

Only last year Travel Republic literally found itself in the dock over financial protection issues when the company and its managing director Kane Pirie faced charges of breaching ATOL regulations by selling unlicensed package holidays.

They were both cleared in November at Westminster Magistrates Court.