Shroff, personal finance expert at money.co.uk has been looking at the implications of the discussions between Thomas Cook and Fosun of China on consumers.
will understandably be concerned about the plight of Thomas Cook, but it
doesn't need to wreck your holiday as long as you ensure you have the
right protection in place.
if your airline or holiday provider is ATOL (Air Travel Organiser's Licence) protected, it is always recommended
that you have comprehensive travel insurance as well before heading off on your
As mentioned, Peter Fankhauser, chief executive of the travel company, is reassuring customers that they can book without any worries as there is enough money to continue to operate
'Desperate times' at Thomas Cook
Thomas Cook's proposed £750m rescue deal is a sign of "desperate times" at the troubled travel company, according to Markets.com analyst Neil Wilson.
The proposal would effectively hand control of the firm over to its largest shareholder, Fosun. Mr Wilson said: "Shareholders
face significant dilution – basically it’s wipe out time."
He said that publicity around the travel agent's financial difficulties was also deterring potential customers from booking holidays with the firm.
"So no surprise to see tour operator bookings
are down 9%, with margins remaining weak due to intense competition and