The Dutch arm of holiday company Thomas Cook which went bust at the weekend, has cancelled all flights due to take place today.

Thomas Cook, which operates under its own name and the Neckermann Reizen label in the Netherlands, said in a press release that despite their best efforts it was now impossible to allow holidays due to start on Tuesday to go ahead.

An estimated 50,000 people in the Netherlands had booked a winter holiday through the company and it is unclear what will happen to them. The company has pledged more information later on Tuesday.

The Stichting Garantiefonds Reisgelden (SGR), which covers the costs of travel companies that get into financial difficulty, said on Monday it will repay travellers whose tickets have been cancelled, but said its first priority was to assist holidaymakers currently at resorts.

Hundreds of travel agents have been drafted in to help people re-book their holidays or claim compensation, Frank Oostdam, director of travel agency association ANVR told broadcaster NOS.

The Dutch branch has not yet filed for bankruptcy after its British parent company went out of business on Sunday night, causing 600,000 bookings to be cancelled and leaving travellers around the world dependent on the UK government to get them home.