The company specialises in travels to the Far East and has branches in London, Birmingham, Manchester and Edinburgh.
A Civil Aviation Authority spokesperson told Sun Online Travel: “We can confirm that we suspended Omega Travel’s ATOL licence on September 3 2018.
“This means that while the ATOL is suspended, the company cannot sell any ATOL protected holidays or flights.
“Consumers who purchased an ATOL protected trip before the suspension can be assured that their trip is fully protected and are advised to contact Omega Travel to confirm arrangements.
“We advise for customers to contact the company if they have booked with them.”
There have been concerns for the group's financial status, however chairman of the Omega Group, Dr Mingliang Chen claimed that those who already have holidays booked with Omega won’t miss out on them.
He told Sun Online Travel: “We are not cancelling people’s flights and holidays. All tickets issued should be honoured by airlines and protected.
“Airlines should have liability to fly our passengers and help our passengers with date changes and refunds.
“Because we cannot access the system, our staff will help customers to contact airlines for their future travel.”
Dr Chen also told us that the business is “still running”.
He said: “Although we aren’t booking flights until we solve the problems with the IATA we are still operating no-air products.”
Since he told us this though, all products, including no-air products, have been removed from the Omega Travel website.
By law, every UK travel company that sells package holidays and flights is required to hold an ATOL, which stands for Air Travel Organiser’s Licence.
If a travel company with an ATOL ceases trading, the scheme protects customers who had booked holidays with the firm – making sure they don't get stranded abroad or end up out of pocket.
It's designed to reassure consumers that their money is safe, and it helps customers if their travel agent goes bust – such as All Leisure Holidays ltd.
Though flight and hotel and packages have now come down from the Omega Travel the website, the warning is still the same.
While the company’s ATOL license has been suspended, its website still states that it is covered by ATOL.
The International Air Transport Association (IATA) told Sun Online Travel: "IATA confirms that Omega Travel has been suspended from participation in the BSP."
The spokesperson continued: "IATA has had discussions with Omega with regard to the necessary conditions to be achieved by Omega in order for reinstatement in the BSP."
Omega Travel has been running since 1965 under various names including Far East Travel Centre, Budget Travel, Travelsky.co.uk and Chinese Travel Shop.
Sun Online Travel previously revealed what to do about claiming compensation if your flight has been cancelled.
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