Holidaymakers who were given a credit note for trips cancelled due to the coronavirus pandemic have been issued a stark warning.
A total of £85m worth of vouchers remains unspent, and the Civil Aviation Authority (CAA) has said they will soon lose financial protection. Any issued between March 10, 2020 and December 19, 2021 are covered by the Atol scheme, which means holders will not lose out if the company they booked with goes bust.
But this protection expires on September 30 this year. Credit vouchers can be put towards the cost of a new holiday or exchanged for cash.
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Michael Budge, head of Atol, which is run by the CAA, said: "Millions of holidaymakers have missed out on travel over the past two years, with many being offered refund credit notes during the pandemic. As demand for travel continues to grow again, we want to make sure consumers are making the most of the financial protection available to them.
"If you have a refund credit note, make an Atol-protected booking or request a refund well before September 30 to avoid putting your money at risk." Consumers were legally entitled to cash refunds within 14 days for package holidays cancelled due to the virus crisis.
But many travel firms offered credit notes as an alternative to help their cash flow during the widespread disruption.
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