Brits jetting off on holiday this year have been urged to make sure they purchase travel insurance as there is an increased risk of airlines folding due to the credit crunch.
EssentialTravel.co.uk states that the airline industry is currently in trouble and many firms are being forced to lower the cost of fares.
However, the website has warned holidaymakers looking for a bargain that they need travel insurance to protect them in case one of these firms goes bust.
Furthermore, although many insurers provide cover for chartered airline collapse, few protect against scheduled airline failure.
Stuart Bensusan, insurance director at EssentialTravel.co.uk, said that "what's most concerning is that even those holidaymakers who are insured, may not be protected without them even realising until the worst happens".
Although some airlines may be in trouble, the cruise industry is far more recession resilient, according to the Passenger Shipping Association.
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