Airlines currently excluded from cover:
* Please note cover excludes any airline where there is a threat of, or has filed or applied for any form of insolvency or insolvency protection at the time of effecting cover or issuance of the air ticket
STRATEGIC AIRLINES PTY t/a AIR AUSTRALIA AIRWAYS UNDER FINANCIAL REVIEW - as of 28 November 2011
Looks like I was given the same advice this morning.
In answer to your question tourisman the email I have specifically highlights that it is effective FROM the 21st of December not to, as such this doesn't appear to be old news as you have suggested.
This email I have details the supplementary PDS being that is being released effective for policies sold from 21st December withdrawing insolvency coverage.
The email does state that the review has been completed (as opposed to the advice that it was underway as previsouly posted on this thread) and that cover will not be provided for policies issued from the 21st of December.
I guess any decision by the insurer could be entirely without base, it is general insurance retail policy after all. In essence there are no real regulations on what they have to include or exclude, just that they have to advise specifically what they do and don't cover at the time of purchase. I assume that this information will be covered by the supplementary PDS being issued in conjunction with the standard PDS for the consumer to decide whether or not they want to purchase that policy.
It is a rumour network after all so believe what you want to believe.
Does this excerpt look like it possibly came from the email you saw, cyclone?
"Supplementary Product Disclosure Statement
*Effective 21st December 2011*
In the coming days your support office will receive a package including a new Supplementary Product Disclosure Statement (SPDS). This is a one page flyer that will accompany your current PDS. This SPDS relates to the withdrawal of insolvency cover for ********* ******** (trading as *** *********).
Why has the Supplementary PDS been issued?
After a review of ********* ******** our re-insurer has withdrawn cover for the airline. This means there will be no Travel Services Provider Insolvency cover for ********* ******** for policies issued on or after 21st December."
Courtersy of my friendly travel agent contact.
A little different from your understandings, tourisman/1a sa.
As i said many times previously they are doing OK and they are covered for insurance. . They are filling the gaps that our beloved Air Sydney doesn't.Yes remove the QANT and you end up with AS (Air Sydney)
Where has our Ozzie spirit gone, we should be getting right behind AA, you never know when your airline will close its doors and you might need somewhere to go.
From what Im told AA has great T&Cs and pay the crews rather well. I would see this as a bonus in todays aviation market as far as wages go. As least their not ripping off their crews and pay them what their worth.
Come on Australia give them a go. You never know when you might just need them.
PS: Ive just purchased tickets to Honolulu and Phuket and i can confirm they are well covered by insurance.
Talked to my next door neighbour this morning who had just arrived bleery-eyed on the Air Australia flight dct from Bangkok. Problem was the aircraft was a ex Turkish Airlines aircraft and the entertainment videos were still in Turkish so people were bored stiff. The passengers were informed of this problem at boarding. Something about a Honolulu aircraft not being available for the Bangkok - Melbourne flight.