The holiday company, which has issued three profit warnings this year and experienced a change of chief executive, is likely to focus purely on price and value in its New Year advertising.

The company denies it has decided on its strategy and a spokesperson says: “Plans are still in progress. We intend to keep our campaign plans under wraps until nearer the time.”

The Redknapps were introduced in the 2010 campaign, accompanied by the revived “Don’t book it, Thomas Cook it” strapline.

After originally launching the campaign Thomas Cook said that the celebrity spot had help increase bookings by 15%.

Rival holiday company TUI UK has launched its Thomson Holidays branding campaign earlier than usual and is focusing on the importance of quality time with family.

Both companies are holding over-arching reviews of their strategy and holiday products.