I don't think holidays will happen but flights will. Ie if you're travelling say to Germany or turkey to see family it will be fine, but resort holidays won't happen. We were due to pay a massive final balance on our summer holiday to Malaysia but the agents told us it's best not to pay and to ask for a credit note for the deposit. Apparently the credit note it's atol protected and we can use it against another holiday for next year. Still don't know if that's right but it made no sense to pay thousands for a holiday we know will definitely not be happening and it could until the end of the year to get the money back.