Holidaymakers with unspent refund credit notes risk losing their money if they do not redeem them by September 30, 2022, when they lose Atol protection, says the Civil Aviation Authority.
Unspent Atol-protected refund credit notes currently total more than £85 million, said the regulator.
In July 2020, the Atol scheme announced that consumers who accepted refund credit notes for cancelled Atol-protected holidays would continue to be financially protected by the Atol scheme.
More: Consumers ‘holding Refund Credit Notes worth £781.5m’ [June 21]
This protection applied to refund credit notes issued between March 10, 2020, and December 19, 2021.
If a travel company goes bust after September 30, 2022, travellers with refund credit notes will not be covered by the Atol scheme and could lose out on money that they have already paid.
To avoid missing out on financial protection, consumers are advised to either:
• Make a booking using their refund credit note. If it is a flight-inclusive package holiday booking, the trip will be Atol-protected.
• Or request a refund. Consumers with refund credit notes can request a cash refund from their travel company at any point.
Michael Budge, head of Atol at the CAA, said: “Millions of holidaymakers have missed out on travel over the past two years, with many being offered refund credit notes during the pandemic.
“As demand for travel continues to grow again, we want to make sure consumers are making the most of the financial protection available to them.
“If you have a refund credit note, make an Atol-protected booking or request a refund well before September 30, 2022, to avoid putting your money at risk.”
More: Consumers ‘holding Refund Credit Notes worth £781.5m’ [June 21]