Holidaymakers with refund credit notes could end up paying more than £100 in legal fees to get their money back, if their holiday provider goes bust before the note can be converted to cash.
British consumers could lose thousands in the event of travel company failures.
With thousands of holidaymakers abroad and many booked to travel with Thomas Cook in the upcoming months, we explain your rights if it goes into administration.
Icelandic airline Wow Air has cancelled all future flights leaving British passengers stranded abroad. The low-cost carrier made the announcement on Thursday morning, but was still selling tickets right up until 7am the same day. It comes after talks with a US financier and rival carrier, Icelandair, broke down. Wow Air was heavily in debt and had been seeking a backer for months.
Budget airline Cobalt has cancelled all flights leaving holidaymakers stranded. The Cypriot national carrier which flew to 23 destinations and operated flights at Heathrow, Stansted, Gatwick and Manchester, has advised customers not to travel to the airport.
Spanish-based travel agent eDreams and some other EU travel agents will no longer be allowed to offer customers Atol protection from the end of this month.
The collapse of Monarch Airlines has emphasised the importance of Atol protection. Anyone who booked a package holiday with Monarch will be fully refunded by the government backed scheme, while...