Co's going bust

[scotty]

Considering booking ahead for next year but I am concerned about losing deposits etc due to so many Co's going bust . There are very strong rumours about a favourite Co of ours about to make an announcement next week about thier trading position .

I know that this years holiday was probably our most expensive to date in PP (mostly down to our choice of hotel and eating places )but I think the real issue will be actually getting to PP in the first place.


Am I being too pessimistic ?

Scotty Lady

 

[Tonsyl]

Companies going bust

Having spent over 30 years in the travel business, companies going bust is nothing new I can assure you! The best thing for you to do is to ensure you book with a suitably bonded operator and pay by a credit card, that way, if the worst comes to the worst, you are covered. Hopefully, you will not need to claim and all will be well.

 

[Kezza66]

Very good advice from Tonysyl.

We always use Bonded and pay by credit card.

Booked XL flights to Palma for October 2008 on day before it went bust but booked it via Royalties Gold Travel Service ( part of Royal Bank of Scotland Travel Service ) who are bonded ( ATOL for flights ) and also paid by credit card.

Royal Bank sent the simple ATOL claim forms within 2/3 days and I have sent them off and await the refund.

 

[Sparky]

Kezza sorry you were caught up in the XL collapse, have you managed to get other flights.

 

[Kezza66]

Hi Sparky,

Thanks for your interest.

The good news is that my wife saw the unfortunate news of the demise of XL at 7.30am on the day after I booked so I got on to Royal Bank Travel at 8.00 am when they opened and got Monarch flights - They were afternoon rather than morning ( in fact the same flight times as we had with Monarch last year from Manchester) but I was just glad to get anything reasonable as flights were going fast and I had booked the Villa the day before.Never used XL in the past - usually Monarch or Thomas Cook.
I feel sorry for all those who were stranded.Our problem is minor compared to theirs.
I had to pay again for the Monarch flights but have no doubts about the refund on the XL flights eventually arriving via ATOL
The villa is booked with Villa Parade who are ABTA bonded and I paid by credit card so that's protected.
I had been on the XL site the day I made the booking but decided not to book direct on line and play it safe and book via RBS Travel - good job I did !

 

[scotty]

Appreciate that if you use a bonded travel agent/airline then you can get your money back but the real problem is the costs of all flights will now skyrocket with reduced competition and fuel charges. Not a happy prospect and you do not want to have to start rushing around trying to get flights on another airline at the last moment.

Scotty Lady

 

[sunny]

insurance

we now book easyjet or jet 2 for flights then private rent appartment. Watched a tonight programe last year which said to get scheduled airline failure in your hol insurance. Bought annual through post office not cheapest but if company goes you get your money back and also any you have paid in deposit or contracted to pay. If goes bust when you are away pay to get you home upto 1.5k each. I know paying on credit card is the way to get flight money back, but if you are stranded on holiday will cost fortune to get home. (think I would just stay!)

 

[Kezza66]

Sunny makes a good point about taking out insurance like the Post office one.

Basically in these times of rising prices and instability in the holiday industry ,all we can do as consumers is having found an affordable holiday/flight with a Bonded operator is to protect it further by paying by credit card and taking out appropriate insurance - I appreciate it may add to the cost but better to be safe than sorry.

 

[JMD40]

Its also important to (I think I am right) remember that the credit card coverage only covers you and your family if you are one of the passengers. It will not cover friends that you may have booked flights for. . . . .so if a group of 10 of you going best to book seperately by credit card - check the small print but fairly certain I am right.