TL;DR - what have you lot done with cancelled holidays?
So, just had a trip to Red Sea with BO2 cancelled, for understandable global circumstances. They've been totally up-front about the possible risks to the trip going ahead all throughout the last 6 or so months since March, and I have no criticism about how BO2 have conducted themselves. As their trips are atol protected, I've never had reason to gripe over any of the holidays I've been on with them before (although last year's jaunt was a little concerning with Thomas Cook going bust the day we left for Hurghada). That debacle was handled brilliantly, and I barely noticed problem on the return flight. Anyway, with this (proper) cancellation, I was offered a credit note, with a view to using that to find a rescheduled trip, going next September. Which is exactly what I've done. Fingers crossed.