Just re-watching Raab on the BBC's Marr this morning replayed by Sky News and he seemed to imply that were TCX to fail, there'd be a difference in the treatment between ATOL protected (package) and non-ATOL (flight only) customers, and he said the govt "had learned lessons" from the Monarch experience. This might mean that non-ATOL protected customers would have to find their own way home and claim on travel insurance. With the Monarch collapse the travel insurers got off lightly in terms of repatriation costs as the govt paid for non-ATOL repatriates - perhaps it's a case of once bitten twice shy (govt is still chasing the Monarch repatriation costs from their creditors (Greybull) I believe).