Loloflights is based at Ford Airfield in West Sussex. |
I have been working for the last 9 months going through the legal hoops for the launch of my new flight only company Loloflights.co.uk,
It was just over 30 years ago when I started Avro Plc in July 1984 with one desk and two phones and over the next few years I built Avro up to £140M turnover and selling the company to the Gobus group.
Lolo will be a web based flight only company based on a completely new travel model outside of the ATOL regulations which are increasingly prohibitive in terms of cost and over bearing regulation, The company will be GSA (General Sales agent) for a number of EU airlines.
Central to the model is a Clients Trust account overseen and managed by Sudsheer Sharma of PTT (Professional Travel Trustee's Ltd) who has been principle trustee at the TTA for over 10 years. All monies are paid into a clients trust account via UK Merchant card facilities which means that monies also have the added protection of the 1973 Consumer credit Act.
Monies only leave the Trust account when they are paid directly to the airline, but we also have a SAFI policy (Scheduled Airline Financial Insurance) in place to cover against the financial collapse of the airline prior to or whilst travelling.
This model safeguards consumers money from the time of booking to the time of return, but the most attractive aspect is the fact that regulatory costs are much lower than using the ATOL system, but the new system achieves the same objective, in fact you could go further, when Excel airlines collapsed, the CAA was telling clients to claim from their credit cards using the 1973 act and many consumers were not receiving those refunds as the credit card companies were sending clients back to the CAA. Many of these consumers gave up and lost their monies.
Route network and product will be announced soon with the launch of our website. We are looking for new airline partners to sign up and be part of a new dawn in flight only.
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