The State is providing a special financial guarantee for package holidays under the Refund Credit Note Scheme for the travel sector. Under the Scheme, the monetary value of the Notes issued by Irish licensed travel agents and tour operators in lieu of a cash refund is guaranteed by the State, if the issuer goes out of business.
Credits notes to the value of €19 million have already been issued to consumers under the Scheme. By voluntarily accepting a Refund Credit Note, customers retain important consumer protections and will be able to book another package holiday in the future with their travel agent/tour operator when it is safe to travel again.
Separately, air passenger rights are protected by Regulation (EC) No. 261/2004, which covers the rights of passengers in instances of flight cancellations.