Whilst still facing long delays from airlines, the company has provided shareholder investment, is still due and waiting a large VAT refund from HMRC and these funds have and will be used to enable the company to repay all customers using its own funds. Since the commencement of the pandemic we have, and are, experiencing very long delays in the collection of refunds for the consumer from airlines.
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Airlines are required to refund consumers within 7 days of a cancellation and travel organisers like Teletext Holidays within 14 days of a cancellation. We therefore do not retain significant proportion of the value within our business. As an online travel agency we book holidays for our customers and money for flights must be paid at the time of the booking. The sheer scale of the pandemic and the vast number of holiday cancellations, has unfortunately meant that some of our customers are still awaiting refunds from us. We at Teletext Holidays understand our responsibilities as a package organiser under the PTRs. The business has already refunded the vast majority of customers and the proposals submitted to CMA detail when we can complete the remaining refunds due. Therefore, we are extremely disappointed with today’s CMA announcement that seemingly ignores the reality of the challenges we face through no fault of our own. We have also provided real time plans on how and when we can refund all customers. We have been in continuous dialogue with the CMA providing evidence of why the refund process has been delayed. Teletext Holidays have consistently stated our commitment to refund all customers as quickly and practically as possible. If it does not do so, we will not hesitate to pursue this case in court.” Teletext Holidays responseīusiness Leader received the below response from Teletext Holidays following the announcement. The firm must now comply with the law and commit to refunding its customers. We take very seriously the ongoing failure of Teletext Holidays to meet its obligations.
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It is unacceptable that many have already waited months for the refunds they are legally entitled to. The CMA has now informed Teletext Holidays that it is preparing to take court action and will launch proceedings if it does not repay the outstanding refunds, or commit to do so, without unnecessary delay.Īndrea Coscelli, Chief Executive of the CMA, said: “There must be no more delays to Teletext refunding customers for holidays they could not take because of the pandemic. However, Teletext has not agreed to provide undertakings that are sufficient to address the CMA’s concerns.
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The CMA told the firm it could avoid any potential court action by signing formal commitments – known as ‘undertakings’ – to refund affected consumers and ensure compliance with the Package Travel Regulations going forward. The CMA wrote to Truly Holdings Ltd., the company that operates Teletext Holidays and also, in March, setting out in detail its concerns and giving the company an opportunity to address them. These showed that people were not receiving refunds they were owed within 14 days, as required by law, for package holidays cancelled by the company due to pandemic restrictions. On 4 February, the Competition and Markets Authority (CMA) announced that it was opening an investigation into Teletext Holidays after receiving hundreds of complaints. Teletext Holidays will face legal action unless it repays over £7m to customers whose package holidays were cancelled due to the coronavirus (COVID-19) pandemic.