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Thursday, 16 November 2017

Your money has paid for Monarch's excess's

Defunct Monarch airlines has cost you a fortune!.
The collapse of Monarch Airlines on the 01st of October brought into focus the fact that airlines are not financially protected.

The irony of Monarchs collapse that even if a passenger was booked directly with Monarch the CAA in effect an arm of government picked up the bill for repatriating passengers back to the UK, in effect your tax monies have under written an airline owned by a private equity group who in effect acquired the airline for nothing and leveraged the assets.

The hit to the exchequer which underwrites the Air Travel Trust Fund is rumoured to be over £100M.

ATOL Protection.
But worse completely innocent companies were pulled down by the Monarch collapse because the CAA re-charged travel company passengers when they didn't try or bother to charge direct consumers.

The fact that a Conservative conference was on at the exact time of the collapse may have had something to do with it.  It would have been truly embarrassing if passengers were filmed at overseas airports being stranded.

Things could be much simpler if all passengers were made to take out a SAFI policy (Scheduled Air Insurance Policy) which would cost no more than £2. per head. 

Because No Frills airlines lobbied the government not to issue a levy to cover
there eventualities, the airlines won the argument.

The only way you can really trust your travel arrangements is to book with an ATOL company and if possible also take out a SAFI policy, one company that does both is FlyLolo.com a new start up, maybe we should see the airlines being compelled to safeguard your money?

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