Lowcostholidays Goes Into Administration
The Importance of having ATOL Protection As Lowcostholidays goes into administration
On the 15th July, nearly 110,000 holiday makers who had booked and paid for their holidays with lowcostholidays.com - a subsidiary of lowcosttravelgroup, found their holiday provider had gone into administration and online were greeted by this message.
“We deeply regret to announce that the lowcosttravelgroup ("LCTG") ceased to trade on 15 July 2016, following exhaustive attempts by the group's directors to rescue the group, which were hampered by the recent and ongoing turbulent financial environment.”
The Spanish based company was not a member of the UK’s ATOL - the Air Travel Organiser’s Licence. The scheme is designed to protect money paid in advance of package holidays and guard against the threat of being stranded abroad.
What does this mean for me?
Holiday makers currently abroad and enjoying their breaks may in fact find themselves presented with a bill for services they have already paid for. While future holiday makers will find their flights paid for, but potentially, not their accommodation.
Many of these expenses can be reclaimed upon return to the UK either through a travel insurance or a credit card provider, but it is not guaranteed.
When booking a holiday, always look on the brochure for the ATOL logo or ask your provider if they are covered. Other travel trade organizations include Aito and Abta.
If you need to make a claim, contact the administrators by emailing firstname.lastname@example.org
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