cancelled thomas cook

[shamu1]

Originally Posted by Warkman58

The card companies they use which cover the Nordic region are not giving them the money due to concerns about company going under.
Doesn’t look goid,as this us what happened with travel city

news.sky/story/thomas-co...-cash-11722884

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same with fly globespan as well.

[sieborg]

This is becoming a self fulfilling prophecy. Financially Difficult times for Thomas Cook and many people hit the panic button and cancel their holiday thereby making the situation worse.
Will I be cancelling my holiday with them? No. My package is ATOL protected.

[Disney-wife]

we are going May 2020 too. we are flying with virgin and staying at disney so everything should be ok and having that ATOL protection means we will get our money back.

[bennyboy0751]

yes we have to make this decision because of work commitments and its rare me and ann get a fourtnight off together first time in a few years because we both work in health care and very difficult to get that long off together

[danisleigh]

We have booked flights only for our west coast trip next year and obviously paid the full amount upfront... I assume we will be able to claim back if we needed to as we paid on our credit card?

[ELLENUT]

Originally Posted by Trinacham

We booked well in advance for May 2020 but I'm still worried as I paid by instant voucher rather than credit or debit card (I save money this way through my work scheme). I can only assume I'm still protected as it shouldn't matter how I paid, I have ATOL protection, but I can't help but worry still. There doesn't seem to be an answer anywhere online! It does seem that unused vouchers are not protected. Anyone have any ideas?

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Did you pay in full or just deposit? If its just deposit then I would make a small balance payment by creit card to cover the whole booking.

[toonarmani]

If you’ve saved £300 overall then the Thomas Cool situation is irrelevant?

[DiszeeBelle]

We've just paid the holiday off, I'm panicking but hubby said it will be fine. We would lose too much and as a previous comment said, we would be adding to the problem.

[Bugsy]

Whilst I understand your reasoning and you’ve actually saved money which is great. Thomas cook should weather this storm in the short to medium term.

They have reasonable liquidity holding more than £200m ( held £150m to 200m in the winter and it’s strengthened since - May 7).

The 1.45bn loss included an accounting mark down on the purchase of MyTravel. The actual loss was closer to £300m which is similar to the liquidity so workable.

The CitiGroup announcement is to be expected . Hedge funds holding short positions are going to want the share price to drop.

I have flights booked for 30/6/19 and although the situation does make me nervous , the accounting ratios that I could find , whilst not great, don’t look like a company imminently about to collapse. They will need to sell the airline and probably close a lot more stores as well though

[Trinacham]

Originally Posted by ELLENUT

Did you pay in full or just deposit? If its just deposit then I would make a small balance payment by creit card to cover the whole booking.

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In full unfortunately. Realise now that I should have asked the question before to save this worry but lesson learnt now I've sent an e-mail to the CAA asking the question. I have an ATOL certificate so surely means I'm covered no matter what, but just want confirmation.