Collective Commentary about the New Package Travel Directive

SPAIN | SERGIO CASTEL GAYÁN 1183 the organiser or the retailer, the guarantee shall be activated free of charge for repatriations and, if necessary, to fund accommodation prior to repatriation. Reimbursements for unperformed travel services shall be made within a period not exceeding one month upon the request of the traveller. In this regard, according to the agreement referred to above, the insolvency guarantee shall be calculated by applying 5 per cent of the turnover from the combined travel income achieved by the organiser or retailer in the preceding period; a minimum amount of EUR 100,000. However, the stipulation of a minimum amount has been criticised by the National Commission for Markets and Competition, as this may imply an entry barrier for new travel agents. However, the autonomous regulation has finally adopted the following dispositions: a) Individual guarantee. During the first year of the activity, this guarantee must cover a minimum amount of one hundred thousand euros. From the second year of the activity, the amount of this guarantee must be equivalent to at least five per cent of the turnover derived from the revenue from sales of package tours and related travel services achieved by the organiser, retailer or entrepreneur providing linked travel services in the previous financial year. In any case, the amount may not be less than one hundred thousand euros. This coverage should be adapted in the event of increased risks, especially if there is a significant increase in the sale of package tours. b) Collective guarantee. The amount of this collective guarantee shall be at least fifty per cent of the sum of the guarantees which the organisers, retailers or entrepreneurs providing individually prepared linked travel services should constitute, in accordance with the previous paragraph. In no case may the total amount of the fund be less than two and a half million euros. c) Guarantee for each package: the organiser, retailer or entrepreneur providing insurance for linked travel service contracts for each combined travel user. In addition, and in accordance with the mandate of Directive (EU) 2015/2302, the LVC establishes the principle of mutual recognition of the different insolvency guarantee systems in the European Union and, to that end, it should regulate administrative cooperation in the field of information with the other Member States and with the European Commission, with the Ministry