7. THE RISE AND FALL OF PORTUGAL
Source: Google Destination Insights Tool
8. …BUT EX-UK TRAVEL SEARCH IS STILL FLAT
Source: Google Destination Insights Tool
9. …AND UK IS LAGGING BEHIND THE EU
Source: Citibank research, Cirium, FlightAware
10. “Our updated base case is that 21.5m passengers are forecasted to
travel through Heathrow in 2021, representing a 2.7% decline
compared to 2020 but a dramatic 73.4% decline vs. 2019.”
Source: Heathrow Airport investor announcement, June 2021
17. Trust accounts - the basics
Bank account A trustee Trust deed Beneficiaries
18. Trust a/c
Typical ATOL trust working
Booking Supplier payment Departure
Balance due
Eg. £250
Credit/debit
X
Credit/debit
X
Eg. £750
Return
Current a/c
Eg. £200
Eg. £200
X
Eg. £550
X
Eg. £800
1
2
3
4
19. Escrow a/c
Typical ATOL escrow working
Current a/c
Credit/debit
Weekly calculation of
total aggregate of
gross ATOL client
money held:
If Escrow a/c balance is
more than 70% trustee
can release cash down
to 70%
If Escrow a/c balance is
less than 70%, company
must top up the account
to 70%
21. €1.8bn of loans and
equity
€400m convertible
bonds
£65 million equity and
£75m banking facilities.
> $4bn convertible
bonds
£1.2 bn bonds and
£300m sale and
leaseback
£1bn from a range of
funding sources
Injection of growth
capital from private
equity firm Certares.
Crowdfunding of
£760k
Much Better Adventures
crowdfunding £1.3
million from 964
investors.
Raised £1.2 m from high-net
worth individuals and travel
executives
£4.25m refinancing £1.5m debt funding
Injection of growth
capital from Genairgy
