Is My Thomas Cook Holiday Safe? UPDATED

In the past month shares in Thomas Cook plummeted and huge job cuts have been announced, prompting fears that the company may go bust, leaving thousands of its customers without money or a holiday. So, what are your options in a worst case scenario?

Is my Thomas Cook holiday safe?

Put simply YES! Thomas Cook is ATOL (Air travel organisers licence) protected which means if that if anything should happen to Thomas Cook then you will be fully refunded, or if you’re on holiday then you will be able to enjoy the remainder of your stay and will still be able to fly home at the end of it.

According to the Civil Aviation Authority “If a tour operator goes out of business, the CAA will ensure you do not lose the money you paid over, or if you're abroad, we'll arrange for you to finish your holiday and fly home.”

All I’ve booked is a flight. Is that safe?

Flights alone are not covered by the ATOL protection scheme. ATOL only covers package holidays.

However, if you booked flights with a credit card (and if they cost over £100) then you could be covered by the Consumer Credit Act.

Is it okay to book a holiday with Thomas Cook?

This is a tough subject. In theory there’s no reason why you shouldn’t book your holiday with Thomas Cook.

The company is still operating and Thomas Cook executive Sam Waheigan said that the holiday company is a 'robust business that has a great future'.

Bob Atkinson from travel supermarket.com has also said “Just because the share price has dropped, people shouldn’t be put off purchasing a holiday with Thomas Cook.” He also noted that if you do book then you’re covered under the ATOL scheme so the risk you face is minimal.

So, you’re armed with the information you need to make an informed decision about your holiday, hopefully it’s put many of your worries to rest. And if you want to know more then it’s always best to speak with the tour operator directly.