The CAA will not undertake a financial test. However, because the CAA must be satisfied that the persons who own/control the business are fit to hold an ATOL, the ABTA member ATOL applicant will be required to provide details of all persons in a position of influence within the applicant to enable the CAA to consider if they are likely to operate in a proper manner if granted an ATOL. If the CAA’s preliminary view is that any of the persons are unfit to hold an ATOL, it will issue a proposal to refuse the application setting out the reasons for reaching the view and giving the applicant an opportunity to put its case at a formal meeting.
The CAA has issued a policy note which sets out the personal fitness criteria.