Another holiday giant in trouble?

Its no secret that the travel industry has been hit hard over recent years as a result of terrorist attacks, plummeting exchange rates, recessions and (it almost pains me to say the words) Brexit uncertainty.

Some holiday makers have had to tighten their belts prioritising household bills and expenditure over their yearly holidays and some are withholding from making any plans at all until Brexit is done and dusted so they know where they are when it comes to jetting off.

We’ve seen several companies go under in the last few years, mostly smaller and less known ones but even some of the big household names have disappeared. Probably the most surprising of late was Monarch who went in to administration in October 2017 after failing to secure investment and a new ATOL licence because of its financial struggles.

Earlier this week I read that Thomas Cook are in talks with its lenders in a bid to secure further debt funding, reportedly £400 million on top of the £875 million they already owe!! They put their airline up for sale in February and then in March came the announcement they would be closing a further 27 shops with 320 members of staff being put under consultation for their positions.

Its quite scary to think that even one of the 2 biggest travel firms out there are not sheltered from the downturn and may disappear in the years ahead. It is now more important than ever to ensure you are booking your trips with ABTA and ATOL protected travel companies. It simply is just not worth the risking booking yourself a DIY package in a big to save a few quid.

The high street travel agencies are facing uncertain times ahead with more and more holiday makers booking online and turning their backs on the big firms in a bid to save some money by booking de-packaged trips through smaller online providers, many of which arent ATOL or ABTA protected.

Don’t put your hard earned pennies at risk, there simply isn’t the need and it really is better to be safe than sorry even if it costs you a little more. I find the service provided by travel consultants be it online companies or high street shops is far more valuable and a much less stressful experience than booking every detail of your trip yourself.

Cruise.co.uk is fully ABTA and ATOL protected so rest assured your money and your travel plans are safe with us.