Jul 27`11 - Payments from the Travel Compensation Fund
On July 26, 2011, TICO’s Board of Directors approved payment of $30,228.33 to assist 27 consumers who did not receive the travel services for which they had paid. These payments were due to the closure of Affordablecruiseandtours.com in Hamilton ($2,010.00) and Panorama Travel & Tours Ltd o/a flycentraleurope.com in St. Catharines ($28,218.33).
Additionally, under the provisions of Ontario Regulation 26/05, the Statutory Director has directed payment of $1,620.67 to assist consumers affected by the closure of Panorama Travel & Tours Ltd o/a flycentraleurope.com on May 17, 2011. These payments were in relation to consumers who had imminent departures at the time of the closure.
The Ontario Travel Industry Compensation Fund is wholly-financed by the industry to protect consumers who do not receive the travel services for which they paid, due to the insolvency or bankruptcy of an Ontario-registered travel agent or travel wholesaler or due to the cessation of an end supplier airline or cruise line. The Fund only covers consumers who have booked through an Ontario-registered travel agent. The Fund is administered by the Travel Industry Council of Ontario, a not-for-profit corporation. TICO may be contacted at (905) 624-6241 or 1-888-451-TICO. Visit TICO’s website at www.tico.ca or email
This e-mail address is being protected from spambots. You need JavaScript enabled to view it
- 30 -
For More Information, Media Please Contact:
Mr. Michael Pepper, President and C.E.O.
Travel Industry Council of Ontario
Tel: (905) 624-6241 / Toll Free: 1-888-451-TICO
