Sep 23, 2019

Thomas Cook collapse: can I get compensation?

The collapse of Thomas Cook has left 150,000 British holidaymakers needing to be repatriated, with hundreds of thousands of others losing the holidays they booked to take this autumn or later. Thomas Cook's failure presents the biggest test for the Air Travel Organiser's Licence scheme, the financial protection scheme funded by the travel industry, and administered by the Civil Aviation Authority. What happens to Thomas Cook package holidays booked for the next few weeks or months?Most future holiday packages are cancelled, but the CAA says refund arrangements for Atol customers should be detailed by September 30. Will travel insurers pay compensation for the failure of travel companies?Travel policies vary, so holidaymakers will need to check the small print of their policies. What if I have already bought my currency?Post Office Travel Money, which accounts for a quarter of holiday currency purchases, has confirmed that none of Thomas Cook customers who have purchased holiday cash will be out of pocket because of travel cancellations.

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