And now itâ??s official, well according to Thomas Cook it is. With over
30 tour operators and more that 20 airlines failing in 2008, the head
of Thomas Cooke has predicted that up to 15 more British travel
companies will collapse in the first quarter of 2009.

This is being put down to cash flow problems during the leanest
months of the year. â??If companies can survive the next three months
they should be fine, but this period is crucial,� he said.

The financial crisis is likely to claim more victims so it is
important to get some protection. Some insurers offer Passenger
Protection Insurance, often termed Dynamic Packaging Protection, sold
separately or part of a , require their members to protect their
customerâ??s money in the event of an AITO member going into
liquidation.

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