ALL THE FUN OF THE FAIR: A&E and television doctor Dr Alex George (back row, left) and Carnival Cruise Line’s Luke Smith give Clia’s Selling Cruise Day the thumbs up last week. Speaking on stage, George told T
ravel Weekly’s
Lucy Huxley about the benefits of using social media to promote a travel business, the importance of taking a break, and working during the pandemic. Also pictured at the conference in Southampton are Carnival Fun Ambassadors (front, from left) Kal Sindhu, Travelbag; Jessica Hartley, Vision Cruise; and Chesney Miller, Barrhead Travel. More than 340 delegates from across the sector caught up at a trade fair before attending sessions
and an evening celebration. i Clia Conference report, page 8
Bowen blasted for claims on trust account ‘flaws’
Ian Taylor
Trailfinders and trust provider Protected Trust Services (PTS) have accused Alan Bowen, legal advisor to the Association of Atol Companies, of making “misleading” comments about trust accounts following the failure of Teletext Holidays’ parent Truly Travel. Bowen claimed the failure
“shows a real flaw” with trusts after Truly failed to refund customers for cancellations due to Covid, leading the Competition and Markets Authority to launch legal action over £1.2 million in unpaid refunds (Travel Weekly, November 4). But Trailfinders chief executive
Toby Kelly described the remarks as “misleading”, saying: “It is yet to be determined whether the Truly Travel trust account will refund all those it needs to.” Kelly acknowledged a trust
model “where money can be paid to suppliers means it is possible a trust account is deficient if a supplier does not refund”.
6 11 NOVEMBER 2021
‘Trust accounts offer more comfort than any
other protection model,’ says PTS’s Tom Clay
But he argued: “Over the past 10
years the companies that have failed with trust accounts have not cost the Air Travel Trust Fund [ATT] anything. Whereas multiple failed operators without trust accounts have called on the ATT to the tune of hundreds of millions of pounds despite having bonds in place.” He added: “All those with trust accounts still contribute to the ATT
for every Atol-protected booking. “The ‘ultimate’ trust account,
which Trailfinders operates, is preferable, where all client money is untouched until travel is complete.” PTS financial director Tom Clay
also weighed in, insisting: “Trust accounts offer far more comfort than any other protection model. One failure does not mean the model doesn’t work. “Thomas Cook and Monarch are
examples of the enormous flaws of the bond protection model. Trusts are not flawless. But the consumer and the ATT are in a far better position where the only use of a consumer’s money is for payment of suppliers.” However, Bowen said: “The fact
people have waited 14 months for their money is a sign the money isn’t there. If you had the money, surely you would pay it? “The problem is not the 99% of
failures. The problem is Thomas Cook and Monarch. We all agree businesses linked to airlines should
be looked at differently.” i Get Social, page 24
Gold Medal appoints Applebaum as MD
Gold Medal has appointed Simon Applebaum as its new managing director, succeeding Lisa McAuley who has taken a majority stake in Silver Travel Advisor. Applebaum will start on November 30, having previously held senior roles at Thomas Cook and Attraction World Group, where he was a managing director until 2020.
Travel firm failures rise to 69 in past year
The number of insolvencies of UK travel agencies and tour operators rose 17% in the past year, from 59 to 69, according to international audit, tax and advisory firm Mazars. The company warned the end of a ban on winding-up orders could further exacerbate issues for companies carrying debt.
Fain to step down at Royal after 33 years
Royal Caribbean Group chief executive Richard Fain is to step down in January after 33 years. He will be succeeded by chief financial officer Jason Liberty. Meanwhile, Oceania Cruises chief executive Bob Binder is to become vice-chairman of parent company NCL Holdings, with Howard Sherman named as his successor.
travelweekly.co.uk
PICTURE: Shutterstock/wk1003mike
PICTURE: Steve Dunlop
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