Thomas cook looking shaky

[alantj]

The bbc is reporting that Thomas Cook is having trouble raising its overdraft and its share price has dropped 65% today.

If you are booked with TC for next year it's probably a very good time to make sure you have a good travel insurance policy in place; idealy one that covers any extra costs incurred if you have to re book flights.

http://www.bbc.co.uk/news/business-15832438

Linkback: https://www.enjoykalkan.com/forum/index.php?topic=8815.0

[dshiels]

We will be booking flights soon with Thomas Cook (our only option unless we use connecting flights).  If we use our credit card to book will we be covered if the worst happens?

[suziq]

Yes if you book with a credit card you are covered. We were when the last lot went bust, senior moment but can't remember their name. We rebooked with Thomas Cook, it cost more but we were not covered for the extra cost incurred. Fingers crossed we and others don't have to rebook flights for a third time.

[Charlie]

I booked Onur Air flights with Goldtrail last year.  When they collapsed I phoned my credit card company to check if I was covered before booking new flights.  They told me that I had to go through the Civil Aviation Authority (CAA) first and try and get the money of them before claiming through my credit card.  CAA did infact pay the money back to me but it did take approx 6 weeks.  In the meantime I had to book with a different carrier and as previously said at a much hgher rate, I was not covered for the extra costs incurred.

[samson]

we booked about 6 flights with kibris (cypress turkish airline)  last year and they went bust. we had paid with a debit card but as it was a visa debit card we got the cost of the flights back. they would not pay us though until we could show proof that the flights did not go. so although they went down in august? we could not claim for our september and october flights until after the dates we were due to fly.

[DRBD]

It has just been announced on the BBC news that TC have infact collapsed.

[whiteonyx]

Thomas Cook has not just collapsed as stated by the last post, it has gone to the banks to re structure it's 900 mil loan and the share price has dropped due to a short fall in it's short term cash flow. Info from Sky news and BBC at 16.00hrs. 

[DRBD]

Sorry - just repeating as heard in person on the radio BBC news this pm, the words were 'Thomas Cook have collasped'.  I stand corrected

[dshiels]

I think they probably meant that the share price has collapsed rather than the company itself.