Page 65 - WTM Industry Report

World Travel Market 2017 Industry Report
8. UK trends
Financial Protection
Nine out of ten Brits recognise the importance of their holiday being nancially protected following the failure of Monarch and Ryanair’s mass cancellations of ights.
Furthermore, fewer than one
in ten holidaymakers (9%) are unaware of ABTA and ATOL logos, compared to a massive 70% who actively look for the symbols for reassurance when booking a break.
This importance of protection stems from the recent high-pro le collapses of well-known airlines and tour operator groups along with terrorist incidents overseas – all of which raised awareness of nancial protection, and the potential consequences of not being protected.
The collapse of Monarch Airlines in October 2017 hit the national headlines as the Civil Aviation Authority (CAA) had to repatriate 110,000 people on specially chartered planes and 300,000 forward booking were cancelled.
Monarch stopped offering Air Travel Organiser’s Licence (ATOL) cover, which protects customers should their travel company go bust, on ight-only bookings from the UK in December last year, less than two months after it was on the verge of a previous collapse.
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