We booked with Thomas Cook via travel agent and went away in May, rumours at that time that TC were in serious trouble then, apparently the charter airline side of the business is strong but the holiday package side is in trouble so your flights should be safe as I think they're separate companies owned by the TC group
We were in Madeira when Monarch went bust. As reports coming out already we were made to pay the hotel bill again as they got the police and locked us in. Luckily we had the £900 but many people won't.
It always pays to take a credit card with you on holiday, not to use but there in case of emergencies or situations such as this.
Just about anyone can get a credit card now regardless of credit score. Fair enough the interest rates are phenomenal on some but you most likely wouldn't need to use it and if you do it's better than being stranded abroad
Also, on the same theme re credit cards, if you pay a deposit or for the holiday on one, it's the credit card company you are dealing with and if in situations like this the travel company goes bust, the onus is on the credit card company to refund you, not the travel company. So effectively your deposit and payment is safe.
Pay on the credit card and then settle the card statement when it comes in so not to incur interest.
Same for all purchases where you are not walking out of the shop with the goods in hand.
Stuck in greece with no news yet. They say we will be flown home but may be different time/date to the one booked. Not sure what will happen at the moment expecting chaos at the airport but could be in a worse place i suppose.