The travel industry is doing badly. Many travel organizations do not have their liquidity position in order and do everything they can to avoid bankruptcy. Travel companies are even accused of offering travel while in reality these have already been canceled in order to convert cash from customers into vouchers. Refunding travel money is also a tricky matter because most travel organizations prefer to see the issue of vouchers.
Companies such as Sunweb only repay a voucher through an amicable one settlement with a strict confidentiality clause. It seems more and more that it has become a favor that consumers get their money back after canceling the trip. More than six months after the request of many consumers to refund their travel money, travel organizations continue to wave stubbornly with the vouchers they have issued and imposed on them. If a travel provider goes bankrupt, the consumer can report to the guarantee fund, but many consumers no longer want to wait for that.
the bankruptcy of the travel organization
The State Secretary of Economic Affairs and Climate Mona Keijzer writes to the Lower House about the position of consumers in relation to other creditors in the event of the bankruptcy of a travel organization.
“Package travel providers and merchants who facilitate linked travel arrangements are legally obliged to take measures against insolvency. This means that in case of insolvency, the (partial) reimbursement of all amounts paid by or on behalf of the travelers must be guaranteed, as well as the repatriation of the traveler if a travel provider is responsible for passenger transport. A travel provider can do this by joining a guarantee fund or by taking out insurance. As a result, consumers will not have to deal with the regime of the Bankruptcy Act in the event of the bankruptcy of a travel organization that complies with the legal obligation. The question of whether creditors are favored over consumers is therefore not applicable in this case. ”
ACM ensures that travel providers adhere to this legal obligation and can issue a sanction if this is not the case. In addition, the consumer can report to ACM if a travel provider has not taken insolvency measures. ACM has taken enforcement action against this on several occasions in recent years. The vast majority of travel providers are affiliated with a guarantee fund, such as SGR, VZR Garant and GGTO. A guarantee fund guarantees the prepaid travel sum in the event of financial insolvency of the travel provider. If a travel provider goes bankrupt, the consumer can report to the guarantee fund.
According to Keijzer, the The House has already been informed by letter about the cabinet decision to provide the Stichting Garantiefonds Reisgelden (SGR) with a loan facility. Thanks to this loan, SGR can continue to indemnify consumers in the event of the bankruptcy of affiliated travel organizations. This support also allows the voucher system to be maintained, which reduces the pressure on the liquidity position of the travel providers. Three other, smaller funds have meanwhile indicated that they want to use the same type of facility under the same conditions, namely VZR Garant, GGTO and the Foundation Guarantee and Guarantee Fund Zeilreizen. Discussions about this are currently still taking place. The talks with VZR Garant are currently in the final phase.
Also read: Sunweb's amicable settlement takes the cake
