The Air Travel Trust Fund (“ATT”) is the primary source of funding when an ATOL holder fails. Monies from the ATT are used to meet refund and repatriation costs arising from a failure. The Fund is administered on behalf of the ATT Trustees by the Consumer and Markets Group of the Civil Aviation Authority.
The original Fund was established in the 1970’s by way of a levy on tour operators’ holidays. The levy ceased in 1978, after which the Fund’s only income came from investments while it remained in surplus. Following a number of large calls during the early 1990's the Fund became depleted, and was revised into the current Trust in 2004. New Regulations were subsequently introduced to ensure the long-term viability of the Fund.
The ATT is principally funded by ATOL Protection Contributions (“APC”). The Civil Aviation (Contributions to the Air Travel Trust) Regulations 2007 require ATOL licence holders to pay APCs to the ATT for each person who books air travel covered by an ATOL.
Latest report and financial statements
The Air Travel Trust (ATT) has published its Financial Statements for the year ended 31 March 2023.