Does ATOL only protect the UK operations of the Group? Is is possible to have ATOL protection if the customers are German/Scandinavian?
AFAIK it’s illegal to sell package holidays without ATOL, but could Thomas Cook get away with selling packages via their German/Scandinavian operations for ex UK departures? I suppose what I’m asking is if it’s possible for parts of the group to survive, or if one part will drag the rest with it?