The organisation representing travel agents is demanding radical reform of the system designed to protect air passengers.
The call follows the collapse this week of a tour operator and a low budget airline that left hundreds of passengers stranded.
Two days ago, Mayo-based tour operator Great Escapes closed down, affecting hundreds of holiday-makers.
However, it was this morning's announcement that low-budget airline Zoom had collapsed that prompted the Irish Travel Agents Association to issue a call for an airline passenger protection scheme.
Association President Jim Vaughan appealed to the Minister for Transport, Noel Dempsey, to confirm that airlines would be obliged to provide a consumer protection bond from now on.
He said that regarding the collapse of the transatlantic carrier Zoom, customers were still on their own attempting to sort out their travel plans.
He said consumers simply did not realise that their money was not protected when they booked direct with many airlines.
Mr Vaughan described the consumer protection regime for the Irish travelling public as completely antiquated - taking no account of no frills airlines.
