Not too sure about this, but according to the Campaign Against Aviation, sorry CAA, hehehe, this should apply:
If you book directly with an airline or through an airline agent you won’t be ATOL protected. You should consider insurance to provide some cover.
If you are booked with an (ATOL) tour operator and the airline you are due to fly on holiday with stops operating, the tour operator is required to provide alternative flight arrangements for your holiday, provide a different holiday of a similar standard or a refund.
My understanding is this is a Tour Operator and therefore ATOL bonded, so everyone should be looked after. Still wer cannot expect Sky News/ BBC etc to get it right all the time
