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Oct. 1 '2018 - TICO Board approves Travel Industry Compensation Fund claims

 

(Mississauga, Ont.) – On September 25th, 2018, The Travel Industry Council of Ontario’s (TICO’s) Board of Directors approved a payment of $5,696.12 from the Travel Industry Compensation Fund to assist six consumers who did not receive the travel services for which they had paid. The payments were due to the closures of Canadian fares Inc. in Toronto ($1,596.16) and Transaero Airlines in Russia ($4,099.96). 

In addition, as a result of the failure of Sinorama Holidays Inc. on August 8, 2018, payments of $68,083.82 from the Travel Industry Compensation Fund were approved by the Statutory Director under the immediate departure and trip completion (repatriation) provisions under Ontario Regulation 26/05 of the Ontario Travel Industry Act, 2002. A total of 136 consumers were assisted.

A payment of $12,542.66 was approved for trip completion to assist six consumers already in destination at the time of the failure, and a payment of $55,542.16 to assist 130 consumers who had immediate departures to various destinations. 

There is a legislated six-month filing deadline for all claims to the Travel Industry Compensation Fund. Consumers who may be affected by the failure of Sinorama Vacations Inc. have a deadline of February 11, 2019 to submit any claims related the non-provision of future travel resulting from this failure. 

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 agency 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 e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

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For media inquiries, please contact:

Priya Ramsingh
Stakeholder Relations Manager
(647) 355-0900