The Air Travel Trust (ATT) – a fund used to meet costs when an airline goes bust – has returned to surplus for the first time since 1996, after a fall in ATOL failures.
The annual report details that the ATT received £48.1m inATOL protection contributions from 19.2m passengers for the year ending 31 March 2013, up from 17.3m passengers during 2011/2012.
Roger Mountford, chair of ATT, said: “The relatively low number of ATOL holder failures shows how well the travel industry performed last year, despite challenging financial circumstances.
“This more stable period for the industry has resulted in the ATT’s welcome return to surplus – consumers now enjoy greater protection for their holidays.”
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