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For more on marking an answer as the "Best Answer", please visit our FAQ.In a nutshell the only implications would be that if something went wrong with the holiday ABTA wouldn't help you with any compensation. If they're ATOL bonded though that shouldn't really matter.
ATOL & ABTA are both bond schemes - if a company goes bust, for example, you will have at least financial protection. By law, companies that sell package holidays in the UK have to have a bond (or similar) in place.
ATOL is a bond scheme specifically for flights and air holidays, run by the Civil Aviation Authority. Most firms who sell air travel in the UK are required by law to hold an ATOL licence. ABTA is basically another level of protection but as I understand it may not be necessary
More info here: http://www.caa.co.uk/cpg/atol/
and here: http://www.abta.com/