In its submission to the BEIS Select Committee ABTA outlined how the global shutdown of travel due to the pandemic resulted in a severe liquidity crisis for UK travel businesses, with suppliers holding on to customer money and preventing travel companies from providing refunds. ABTA proposed amendments to the UK Package Travel Regulations to approve Refund Credit Notes (RCNs), which could be exchanged for alternative holiday arrangements or a full refund at a later date. 

View ABTA’s submission here.