Every UK travel organiser selling flights, flights and accommodation or flights with other travel services is required to hold an ATOL, which stands for Air Travel Organisers Licence. ATOL is a government-run financial protection scheme operated by the Civil Aviation Authority (CAA).
The CAA approved ABTOT as a Franchise holder in 2017 enabling ABTOT members to apply for an ATOL through their ABTOT membership without having to meet the CAA’s increased bonding and financial criteria.
If applying direct to the CAA for a new Small Business ATOL, the CAA requires travel organisers to have a minimum paid up share capital of £30k and to arrange a £50k bond, which is intended to reduces by £10k every year for the first five years.
If you apply for the ATOL Franchise there is usually no additional financial criteria on top of ABTOT’s Membership criteria of £10k paid up share capital and the bonding requirements are half that of the CAA’s requirements, namely £25k in the first year, with again the intention to reduce by £5k every year for the first five years, but this will be subject to an underwriter assessment.
ABTOT: Single point of contact for ATOL, Travel Bonding and Merchant Acquiring Facilities.
Contact the ABTOT TeamEmail the team Call the team on 0207 065 5313
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