TICO’s board of directors has approved payment of more than $35,500 to assist 51 consumers who were at risk of not receiving the travel services for which they had paid.

The payment was due to the closure of Aerosvit Airlines in Ukraine ($518); Blue Mountain Travel in Toronto ($10,742); SkyGreece Airlines S.A. ($730.75) and Skypride Travel & Tours in Markham ($23,594).

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 agent or travel wholesaler or due to the cessation of an end supplier airline or cruise line.

(http://www.tico.ca)