The CAA has stepped in after the collapse of Surrey-based tour operator Masterplan Publishing.
Masterplan, which traded as Mastersun and Masterski, was based in New Malden and operated package holidays to Greece, Turkey and a winter ski programme to France.
There are 150 holidaymakers currently abroad and more with forward bookings who have not yet travelled.
Masterplan held an ATOL licence and provided a £480,610 bond to the CAA, which will be used to rescue and reimburse those affected.
Customers due to travel on September 28 from Gatwick or Manchester are being advised that these flights are scheduled to depart as originally planned.
Anyone due to travel after this date should submit a claim to the CAA as these flights have been cancelled. Forms are available on the ATOL website at www.atol.org.uk.
By Bev Fearis
