Holidaymakers have been hit with immediate price rises as Thomas Cook’s collapse prompted tour operators and airlines to push through big fare hikes.

Travellers scrambling to rebook holidays claimed that some airlines had trebled prices in the space of 24 hours. Flight websites predicted that prices, especially out of Manchester, would continue to rise significantly in the coming months.

Jet2, whose UK airports include Manchester, confirmed it was raising prices in the wake of Thomas Cook’s demise. A spokesperson said: “Our pricing, as is common practice in the travel industry, is based on the principle of supply and demand. As supply reduces, an inevitable consequence is that prices increase. However, we are looking at adding more supply (flights and seats) to help customers at this time.”