Some 60,000 holidaymakers are due to travel with failed seat-only operator Kiss Flights, the Civil Aviation Authority has confirmed.
Around 13,000 customers are currently overseas and will be able to complete their holidays as normal. Since the company has failed during peak season, the CAA is also putting in place arrangements to allow people to travel out on their holidays for the next 24 hours.
The CAA said those with forward bookings will be able to claim a full refund for the Atol protected elements of their holidays.
It advised customers with flights due to depart before 6pm on Wednesday to go to the airport as normal. For bookings after that date, customers were advised to make a claim to the CAA and seek advice from their travel agent.
The company sold a very small number of package holidays. In most cases, Atol protects only the flight part of the package.