Thomas Cook: seven things the collapse of this travel icon taught us

The Man Who Pays His Way: Essential steps to travel happiness

Lost dreams: a Thomas Cook travel agency in Dundee (Simon Calder)

Travellers the world over owe gratitude to Thomas Cook. Starting in 1841 with a day trip from Leicester to Loughborough, he responded to the railway revolution by industrialising leisure travel. This Baptist minister expanded the horizons of working men and women, spreading joy and wealth around the world.

At its height, Thomas Cook’s travel empire girdled the globe and symbolised adventure with assurance. I recommend that 22 November – the day he was born in 1808 – is henceforth marked with a tribute to the Victorian visionary.

Meanwhile, the sudden and wretched disintegration of the most robust brand in travel provides a timely reminder of seven steps to a happy holiday.

1. Book with a travel professional

This has been the worst of weeks for Thomas Cook’s staff. It has also been gruelling for other good travel agents and tour operators helping customers whose arrangements were wrecked by the collapse: sourcing alternative flights or accommodation, and charging not a penny extra.

2. Booking a DIY trip? Don’t overcommit at your destination

You might be happy and confident about sourcing transport, accommodation and experiences online to create a dream trip. But before you commit to non-refundable elements abroad, consider the risk your flight might be grounded – whether due to the airline’s financial collapse, bad weather or a strike.

3. Pay with a credit card, not a debit card

You get longer to pay; there is no longer any price disadvantage; and Section 75 of the Consumer Credit Act kicks in with financial protection for purchases above £100.

4. Give cash or promises, never gift cards

An intricate net of consumer protection means most people who bought holidays from Thomas Cook will get their money back, eventually. But the firm’s gift cards are valueless. Some well-meaning benefactors who used credit cards to buy them may be able to retrieve the value.

But even when the issuing travel firm doesn’t go bust, gift cards and vouchers restrict choice and impose deadlines. In future please give hard cash or a promise: “A flight and a hotel for a weekend in Rome next May,” for example.

5. Dig out those traveller’s cheques and cash them in

Judging from the questions I have received this week, a surprising number of readers reacted to the sad demise of Thomas Cook by suddenly remembering they had some ancient traveller’s cheques in a sock drawer.

These financial relics were great in the Victorian era but have no place in 21st-century travel.

Thankfully Travelex, which bought Thomas Cook’s travel money business, will take them off your hands for a 5 per cent fee.

6. Book late to avoid disappointment

Around 800,000 of us have advance bookings with Thomas Cook – and many thousands more who bought packages from Tui that included flights with the failed company learned their holidays were cancelled. We are now waiting impatiently for refunds.

The later you buy, the less that can go wrong before your departure.

7. Go now

Don’t postpone the chance to travel. In this uncertain world, the opportunity may not be there next year. Or even next week.