Travel firms will collapse and taxpayers will be left with a multibillion-pound bill unless UK refund rules are changed, a trade association has said.
Under EU law, travel companies must refund customers within 14 days if their holiday is cancelled. But Abta - the Association of British Travel Agents - wants the Government to allow companies to offer credit notes as a "short-term alternative" to cash refunds because of the deluge of claims caused by the coronavirus pandemic.
It added many travel firms will be unable to survive if they are forced to pay cash refunds immediately. This is partly due to a delay in them receiving money back from airlines and hotels.
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