Collective Commentary about the New Package Travel Directive

852 COLLECTIVE COMMENTARY ABOUT THE NEW PACKAGE TRAVEL DIRECTIVE travellers in Hungary, compiled by the travel organiser, but at least HUF 50 million, provided that in the period covered by the financial security: ca) a non-scheduled (charter) flight is used when compiling the package travel, irrespective of the airport of departure on the route, cb) the travel organiser’s liabilities arising from the guaranteed contract under paragraph (11) exceed 25% of the annual revenues arising from its travel organisation activity.”. 32) The method of calculation of the amount of financial security changed in comparison with the regulation prior to 01 July 2018 as follows: The highest amount of the sales revenues constituting the basis of financial security • net sales revenues accounted until 31 December of the year of conclusion of the contract relating to financial security, • net sales revenues planned for the next year, or • amount of net sales revenues of the year preceding the year of conclusion of the contract relating to the financial security generated from domestic and/ /or international activities. For instance: The following shall be taken into account when establishing the financial security for the year 2020 of an already operating tour organiser. The highest net sales revenues of the • net sales revenues of the year 2018, • expected net sales revenues of the year 2019, and • planned net sales revenues of the year 2020 shall form the basis of calculation of the financial security to be certified for the year 2020. 33) The activities serving as basis of the financial security are listed separately in Section 8(3). As a result, such activities may not be merged in respect of the financial security, the relevant financial security shall be certified for each activity. For instance: In case a tour operator organizes tours both in and outside Hungary, the 3% financial security indicated in paragraph a) shall be provided for Hungarian tour organizations, and the 12% financial security indicated in paragraphs b) [or perhaps c)] shall be provided for international tour organizations.