Originally Posted by
SLFandProud
As much as I admire your certainty, and as much as I doubt mine... ATOL covered about 5% of Monarch's business, I understand - being the "package holiday" type stuff. The other 95% has nothing to do with ATOL and won't be paid for by it.
That said, of course the CAA/Government won't pick up the whole tab - they'll claim from insurers and card companies. But it's certainly a relief for passengers that it's the CAA/HMG having that fight instead of them, I'm sure.
the passengers bookings who are not covered by ATOL after the 16th of OCT will have to pay themselves to get home and they can claim the lost Monarch tickets from their credit card companies if they bought their ticket that way or by their travel insurance end user or airline failure cover if they had it -
the CAA do not claim from card companies
The CAA expects debit card issuers to join credit card issuers in refunding customers’ bookings, although there is no legal requirement for them to do so. which is good news now.
HM Govt nor the CAA does not pay any of this debacle up to 15th Oct - as I said the funding for repatriation and the planning of is all met from the huge air travel reserves fund surplus which stands at over £139m
if the £60m costs of this event are true then that is almost half of the Fund being used - if that is so then i can see maybe extra amounts required for Bonds from operators in the near future - should Thomas Cook go under as was seen as a possibility last year then the Fund would be decimated
the CAA have since this time last year known it was possible Monarch would go under with a 291m loss so re-pat's and planning would have been well established as has been seen
yes Wamos are flying an ex MON A330 on rescue flights along with a 747-400