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The Danish Government opens a new scheme for affected travel operators to help them repay the Danes’ cancelled travels.
The travel industry is affected massively by the corona crisis, as trips has been cancelled due to fear of infection and as a result of the Ministry of Foreign Affairs’ travel guides.
Therefore, with the support of the Parliament, the Government has opened a new guarantee scheme through Rejsegarantifonden, which allow affected travel operators to cover cancelled travel packages and thus money to repay customers.
With this scheme, the state provides, through Rejsegarantifonden, a guarantee i.e. a DKK 2.25 billion loan.
“With the new guarantee scheme, we ensure that the Danes will get their money back if the trip has been cancelled due to corona. Usually the fund only pays out money if the tour operator has gone bankrupt. My hope is that with the new guarantee scheme we can avoid too many bankruptcies in the travel industry.
The government has launched a series of aid packages to give struggling companies a financial boost. However, we believe that further action is needed when it comes to the travel industry, which were hit early in the process and are currently struggling. That is why the government is launching this initiative today”
Simon Kollerup, Minister for Industry, Business and Financial Affairs
Normally, Rejsegarantifonden only covers reimbursements if the travel provider has gone bankrupt, but the new scheme also applies to package travellers where the provider has not gone bankrupt.
It allows travel service providers to request Rejsegarantifonden to reimburse the package tours that could not be completed because of the Ministry of Foreign Affairs’ travel guides discouraging unnecessary travel as a result of Covid-19.
The scheme is temporary and applies to journeys that have been influenced by the Ministry of Foreign Affairs’ travel guides.
- Rejsegarantifonden may reimburse the prepaid amount to the travel customer if the customer has not yet received it from the travel provider.
- If the travel provider has reimbursed the prepaid amount to the travel customer, the fund can pay the travel provider the amount and thus helps the travel provider's finances.
- If the travel provider has issued a voucher / gift card to the customer, the fund may pay the prepaid amount to the customer against the cancellation of the voucher / gift card.
If, as a travel provider, you wish to obtain support for reimbursements through Rejsegarantifonden, you must address Rejsegarantifonden.
On the 12/05 - 2020 the government extended the relief package and agreed on the following:
- A grant to the Rejsegarantifond’s fund for extraordinary situations of DKK 600 million. DKK to cover a large part of the strain put on the state guarantee in the first period of the scheme, which ran from when corona made travel situations impossible until 13 April 2020
- A grant for consolidation of the fund for package tours in the Rejsegarantifond of DKK 125 million. kr.
- The repayment model for loans via the Rejsegarantifond is made individual. This applies to journeys that should have started from 14 April 2020 until 10 May 2020.
- Coverage for the extraordinary additional costs incurred by travel providers for interrupted travel, including necessary rebooking’s of flights for repatriation and reimbursement of lost holidays to the consumer.
- Clarification of the travel provider's relationship with insurance companies.
- Seek support in the EU for a temporary, mandatory voucher scheme.
On the 23/06-2020 the government extended the relief package and agreed on the following:
- The state guarantee is extended until 31 August 2020
- The state guarantee is increased from DKK 1.5 billion. DKK to 2.25 billion. kr.
- The link between individual debt collection and collective repayment of losses on the government guarantee is removed.
- Further discussion of proposals for a bill to adjust the Rejsegarantifond, so that the Rejsegarantifond will be better equipped to handle crises in the travel industry.
- Rejsegarantifond receives a grant of DKK 1 million. kr.
Read more about the scheme on Rejsegarantifonden website.