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Liverpool Echo
Liverpool Echo
World
Lottie Gibbons

Money Saving Expert Martin Lewis reveals what Thomas Cook trouble means for your holiday

With holiday giant Thomas Cook feared to be days from collapse, Martin Lewis has explained how it could affect your holiday.

The tour operator has confirmed it is seeking £200 million in extra funding as it attempts to prevent a collapse.

The company said it is in talks with stakeholders, including leading shareholder Fosun, to bridge the funding gap to stave off entering administration.

But if Thomas Cook collapsed, up to 150,000 UK holidaymakers would be stranded abroad and a million more would lose their future bookings.

Would you be affected if Thomas Cook collapsed? Let us know by sending an email to lottie.gibbons@reachplc.com

A Thomas Cook plane taking off (Tim Goode/PA Wire)

Writing on Twitter, Martin Lewis said: "Thomas Cook worries? The huge firm is in financial turmoil.

"I'm flooded with questions from people who've booked holidays or had vouchers.

"We're rapidly writing an MSE guide to answer those."

Sharing a link to Money Saving Expert, reporter Callum Mason revealed what customers need to know.

I'm currently away - what should I do if Thomas Cook collapses?

The Civil Aviation Authority would launch a scheme to bring ATOL/ABTA protected travellers back to the UK. These travellers have bought holidays in a way that includes them in a financial protection scheme - ATOL covers most package holidays, but not all holidays offered by Thomas Cook.

It's also worth checking if your travel insurance would cover costs should you have no protection.

Only the government could make a decision whether non-ATOL passengers should be repatriated free of charge.

I've booked to go away with Thomas Cook in the future

Package holidays which include a flight are protected by the ATOL scheme.

If you hadn't started your trip when it stopped trading, you'd be given a full refund or a replacement holiday.

(Rui Vieira/PA Wire)

I booked a DIY holiday with Thomas Cook

If you bought the different elements separately via the same website (or shop or call centre) in the same transaction you'll be protected.

You'll have some protection if you bought different elements of a holiday separately in multiple transactions, but in the same visit to a website or shop or the same telephone call, or if a firm arranged for you to buy another element in a targeted manner within 24 hours.

With most other DIY bookings, you're not covered.

For package holidays without a flight, you'll still be protected, but this time it'll be under the ABTA scheme.

I booked just a flight with Thomas Cook

Flight-only bookings made directly with an airline won't usually be protected via ATOL.

To read the full guide, click on Money Saving Expert's site here .

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