Transport committee  Yes, there's a gap, and it does have a detrimental effect on the travel agencies themselves, because travel agencies do have to disclose the full price, even of the airlines' flights to the consumer, with the exception of the GST and the PST. For instance, when an airline advertises a price in the newspaper, I think what Mr.

Transport committee  Full disclosure in advertising.

Transport committee  I don't think the airline industry directly promised to introduce a compensation fund. I think their response to the minister with respect to regulations regarding that matter was that they could do it themselves, with regard to the disclosure as well. So my understanding is that it wasn't entrenched in regulation.

Transport committee  Charter flights require approval from the CTA, and upon approval they are required to provide a financial guarantee with respect to the advanced payments. They have to put up a bond or some sort of financial guarantee to cover the advance payments from the wholesaler to the charterer.

Transport committee  That process or procedure is in place for chartered flights, but many of the flights now are filed as scheduled. There are very few chartered flights that are filed. Even if you look at Europe and Florida and domestic, they're all filed as scheduled. There's very little protection for consumer money.

Transport committee  Good afternoon. Thank you for allowing the Travellers' Protection Initiative the opportunity to make a submission today. My name is Michael Pepper. I'm the CEO of the Travel Industry Council of Ontario, which is known as TICO. We are responsible for regulating travel agents and travel wholesalers in the province of Ontario.