Abta ‘will not underwrite’ members’ trust accounts
Ian Taylor
Abta chief executive Mark Tanzer has confirmed Abta “will not underwrite” the consumer financial protection of members using trust arrangements, which it will accept for the first time from March. The association announced the
policy change in late November, making clear it won’t financially protect or manage the arrangements or handle claims, and financial protection director Rachel Jordan confirmed: “We’re taking this approach for the March renewal.” That led Alan Bowen, legal
advisor to the Association of Atol Companies (AAC), to warn: “Abta needs to be careful. It needs to stand behind its logo. It needs to say to trust providers, ‘We need some form of indemnity if money is missing from the trust account’ because if a company fails and the money is not there the value of the Abta [brand] has gone.” However, Tanzer told Travel
Weekly: “We’ll accept trust arrangements, [but] the trust organiser – those responsible for the arrangements – will need to stand as
Mark Tanzer
Tui settles with Sousse terror attack claimants
Tui has reached a settlement with families of holidaymakers in the Tunisia terror attack in 2015 when 38 people, including 30 Britons, were killed by a gunman in Sousse. Tui and law firm Irwin Mitchell, which represented the families, said they had “worked collaboratively”
on the agreement. i Business, page 54
Bullas buys Beds With
a backstop to it. We won’t underwrite it. If the trust turns out to be deficient, if it doesn’t do what it says, there will be a breach of the law.” He insisted: “We want to provide
choice to members provided we’re assured the trustees will do their job.” Bowen acknowledged the move
was inevitable, saying: “Some Abta members would rather run trust accounts. About 30% of AAC members say they’ll look to trust accounts. Companies are being asked for bigger bonds and feel trust accounts could be cheaper. It depends on the trust arrangements.” But quoting a former Abta head
Clia Europe seeks to allay fears of US-style restrictions
Clia Europe has moved to reassure the cruise sector over concerns Covid protocols could soon be tightened amid rising Omicron case numbers. Lines including Marella Cruises, Royal Caribbean
International, Norwegian Cruise Line and MSC Cruises have postponed or cancelled sailings in recent weeks due to Covid cases on board. The US Centers for Disease Control and Prevention (CDC) upgraded its risk status for cruising from
6 13 JANUARY 2022
of finance who described financial protection as “a noose around Abta’s neck”, Bowen suggested: “If Abta could get out of financial protection it would.” Tanzer rejected that, insisting:
“Bonding is a really important service – a service our members want. It’s the lowest-cost, easiest way to comply with the regulations and it offers a choice for members.” Leading industry accountant
Chris Photi, head of travel and leisure at White Hart Associates, said: “Abta realised it had to allow trust accounts, but they should have done it a year ago.”
Ease and Broadway Broadway Travel and trade-only bed bank Beds With Ease have been acquired by private investor Nathan Bullas for an undisclosed sum. Bullas, chief operating officer at financial services provider GC Partners, is a major shareholder in a number of leisure, retail and hospitality businesses worth £150 million. Broadway’s board and management team will remain.
Trailfinders and Jet2 in
top-50 firms to work for Trailfinders and
Jet2.com and Jet2holidays have been named among the top-50 companies in the UK to work for by job review site Glassdoor. The agency and airline and tour operator were ranked 35th and 43rd in the Employee’s Choice Awards, which are based on voluntary anonymous feedback from staff.
level three to four last month, prompting fears health authorities across the EU and the UK could follow suit. But Clia Europe’s new director general,
Marie-Caroline Laurent, told a Travel Weekly webcast: “Travellers can be reassured that, for the upcoming season in Europe, we’re still looking at having a good programme and good experience. “No government, no authority, is planning on issuing
additional requirements or restrictions on cruising. “On the contrary, they’re trying to help the sector
resume its full capacity.” She added governments across Europe had given
Clia Europe positive feedback, demonstrating how strong collaboration with politicians had “paid off”.
Marie-Caroline Laurent
travelweekly.co.uk
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