The scheme will pay travel agents to secure refunds or credit for cancelled travel plans on behalf of consumers.
Travel agencies will be paid:
- 7.5% of the value of cash refunds
- 5% of the value of credits.
This will mean, for example, that if an agent gets back $10,000 in a cash refund on cancelled travel, the customer gets that money back and the agent will get $750. If the agent secures a credit for the $10,000 cancelled travel, the customer gets the credit and the agent gets $500.
This scheme will be put in place as soon as possible. We’ll give further guidance on who is eligible and how to apply when it’s available.