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Travel agents hit by the pandemic will receive funding from a new €10m government scheme

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Travel agencies affected by the pandemic, which are now also affected by the war in Ukraine, can be funded under a 10 million euro program.

The abinet ministers will today sign a government program that will help save 3,000 jobs in the sector.

Travel agents must demonstrate they are trading 25 percent below 2019 levels to qualify for the funding, which is subject to a monthly cap calculated as a percentage of average 2019 sales.

There will be two payment rounds, with applications open for five months starting next week.

Junior Travel Secretary Hildegarde Naughton will share details of the program with her Cabinet colleagues today, with payments due to start from May.

The funding will help travel agents pay for business-related incidentals while the sector recovers from the pandemic.

Since March 2020, a total of 12 travel companies have ceased operations.

If a travel company fails and its own insolvency insurance and guarantees are not sufficient, the state is ultimately liable for the costs of repatriation and reimbursement under the EU Package Travel Directive.

“The program will help reduce the risk of bankruptcy and also serve to reduce financial risk to the Treasury,” a government source said.

The 3,000 jobs are “well distributed” across the country, with most operators being small, owner-managed family businesses.

As of June 2021, the sector no longer qualifies for the Covid Restrictions Support Scheme (CRSS).

“The sector has reported that recent events such as the invasion of Ukraine have impacted consumer confidence in overseas travel,” the source said.

https://www.independent.ie/irish-news/pandemic-hit-travel-agents-to-receive-funding-from-new-10m-government-scheme-41498508.html Travel agents hit by the pandemic will receive funding from a new €10m government scheme

Fry Electronics Team

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