On Friday 9 July, the European Commission approved a EUR 750 million German scheme in the form of a State guarantee for loans that may be taken out by the Travel Insolvency Fund.
The aim of this support is to reimburse travellers in the event of package tour operator insolvency.
Under the Package Travel Directive, package travel organisers are required to ensure that travellers will be reimbursed for sums they have already paid for services, which were not ultimately provided, either fully...