June 26, 2019 - Travel Industry Compensation Fund Makes Final Payment to Consumers Affected by Failure of Sinorama Holidays Inc.

Mississauga, ONT. – On June 25, 2019, the Travel Industry Council of Ontario’s (TICO) Board of Directors approved a payment from the Travel Industry Compensation Fund in the amount of $4,270 to assist three consumers who did not receive travel services for which they had paid. The payment was due to the failure of Sinorama Holidays Inc., which voluntarily terminated its TICO registration on August 8, 2018. 

This follows a Travel Industry Compensation Fund payment that was approved on May 28, 2019 for $249,490 to assist 135 consumers. Additionally, at the time of Sinorama’s failure, TICO assisted 136 consumers with immediate departure and trip completion (repatriation) provisions, issuing payments of $68,083.82 from the Travel Industry Compensation Fund. This included a payment of $12,541.66 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. 

This stage of the closure is now complete and all consumers with eligible claims have had their payments approved.

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.

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Media contact:

Kristina Wilson
Stakeholder Relations Manager
(647) 355-0900