Easyjet

[victor]

have a flight booked in MAY £302 return to Madeira
Easyjet offering Winter flights up to next FEB,

could do the same trip for £144 BUT would lose the difference

rather wait until they say MAY flight isn't going and have a full refund

Although I am sure I have read that airlines can give credit note which would be honoured by the Govt if airline goes bust

[TheOstrich]

I don't know about the compensation rules, Vic, but I very much doubt that flight to Madeira will go ahead ….. my S was booked on a Saga holiday and waited for them to cancel it, which they did - she got a full refund by cheque.

[JoM]

I’ve never heard of the credit note, just that paying by credit card gives you protection and that some insurance policies may cover it but not all, and I’m not sure how much ATOL would come into play.