Good news for travellers.  The Thomas Cook Group, which provides holiday packages and flights to Turkey, has secured banking facilities that will support its continued trading.

Put simply, their bank overdraft of £100 million, has been increased to £200 million, (although it's a bit more complicated than that).

Confidence in Europe's second largest travel company had been dented, following difficult trading conditions, and liquidity (cash flow) problems.

We say hopefully, because we have come across some people saying that they won't now risk using Thomas Cook.  In our view, this is a self defeating stance.

We do of course recognise that when you book a holiday or flight, you want to be as sure as possible that you will get what you pay for.  The recent collapse of other travel companies, does highlight the risks involved, and some people have suffered losses. 

However, if potential customers decide they won't use Thomas Cook, then they are significantly increasing the chance of that company failing. 

The consequences of Thomas Cook going bust are:

• considerably less choice and increased prices for travellers,
• thousands of people out of work, and
• one less company paying taxes to the UK Treasury. 

Not exactly what most people would wish to see. 

So the advice from KTLN is to consider Thomas Cook, along with other travel companies, rather than boycotting them.  If you book with a credit card, or debit card your money should be safe.  See the KTLN Flight & Travel Information page for more about this.

If you want to see the full details of what has been agreed, click on the following link: Thomas Cook revised banking facilities

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