Thomas Cook Insolvent: The Package Holiday Giant Has Ceased Trading
Regretfully, Thomas Cook, one of the oldest tour operators in the world, filed for bankruptcy on Monday, September 23, 2019 and ceased all business. Leading up to last Sunday, the package holiday giant would have required £200 million in funding to sustain operations, but negotiations failed to bring about the desired result.
Thomas Cook was founded in 1841 in the UK and grew into one of the world' s largest travel companies. Customers were drawn to Thomas Cook for the high quality and the ability to customize a holiday to their needs. They provided package holidays to many popular destinations, like Spain, Greece, Portugal, and Turkey.
I've booked a holiday with Thomas Cook. What now?
Thomas Cook is covered under the ATOL (Air Travel Organisers' Licensing) protection scheme. This means if you've booked a package holiday with them for the future you will get a refund. If you have booked a Thomas Cook holiday through an independent travel agent who also has an ATOL certificate, you will be refunded.
If you are currently on a Thomas Cook package holiday and are stuck somewhere, the CAA (Civil Aviation Authority) will find a way to get you home. The costs of your return home will be covered.
I've booked flights on Thomas Cook Airlines. What now?
Unfortunately, if you have booked flight only through Thomas Cook Airlines, you may not be covered. Check your travel insurance to learn more about your rights and protections.