Thomas Cook has attempted to reassure passengers following news that its stock had plummeted.
On Friday (May 17), investment bank Citigroup advised shares should be marked as zero and stock market analysts valued the tour operator's shares as "worthless".
Holidaymakers panicked and contacted Thomas Cook in their droves for reassurance that their trips would be going ahead, Chronicle Live reports.
And the tour operator was quick to respond saying it is proceeding with "business as usual" and to say that customers will "still be going on their holidays".
Thomas Cook's chief executive, Peter Fankhauser had already admitted the company made operational losses of £1.4bn since the start of 2019.
Reporter visits dogging hotspot after dark and reveals what she saw
In March, it announced branches in Gosforth, Sunderland and Peterlee are to close, along with 18 others around the UK.
Customers who have booked their holidays with Thomas Cook have been contacting the operator on social media, fearing their trips may not go ahead.
Thomas Cook has attempted to reassure them by stating 'recent media speculation will not affect our operations' and 'you'll still be going on your holiday'.
Thomas Cook has tweeted: "It is business as usual for customers who have booked packages holidays or a flight only.
"Whatever the outcome, the Group's airline operations will continue to run as normal and our holidays and flight programmes will not be affected in any way."
Customers who have booked a package holiday with Thomas Cook will get their money back if the company does collapse, as they are ATOL protected.
However, those who have only bought flights do not have the same cover, and should check with their insurance company if Thomas Cook does fold.
ATOL protection offers customers a safeguard if the company they have booked a package holiday with is liquidated.
Customers who have booked holidays with ATOL protection are offered alternative flights - if they are away on their holiday when their tour operator collapses - and refunds if their holiday is cancelled.
In February, Thomas Cook revealed it is considering selling its airline business to attempt to reduce its debt.
That was followed by March's branch closures, which Thomas Cook say reflects changing consumer habits, with more customers choosing to book holidays online.
