The collapse of Goldtrail, Kiss Flights and Sun4U will cost the Air Travel Trust (ATT) between £40m and £45m, according to the Civil Aviation Authority.
Following a meeting yesterday of the Air Travel Insolvency Protection Advisory Committee, which advises the CAA on financial protection, the ATT said it will be paying out to 112,000 Goldtrail passengers at a cost of £20m, 64,000 Kiss Flights passengers (costing £20m) and 4,200 Sun4U customers (£1m).
The CAA says no bond was provided by Goldtrail “as the company had traded for many years” but Sun4U had a £0.4m bond, now called in, and Kiss had a £1m bond, also now called in.
The ATT says it has sufficient resources to meet the claims.
by Dinah Hatch
