AIUI, there is a clear distinction between an AOC and an ATOL.
An AOC is there to protect the passenger's lives; an ATOL is there to protect the passenger's money.
Operational matters affecting flight safety are the sole responsibility of the AOC holder; it would be completely improper and a total conflict of interest if the ticket seller were to intervene in operational matters such as deciding whether a particular flight should or should not be conducted in the prevailing weather conditions.
Evidence of a lack of effective operational oversight by the AOC holder would, in my mind, justify a regulator placing a stop on operations.