Originally Posted by
MelbourneFlyer
Looks like Bain has created a loophole in the promise to 'fully honour' all flight credits for cancelled Virgin Australia flights. Once Bain takes control, all credits will be converted into a new 'Future Flight' credit voucher but there will be strict restrictions on how those Future Flight credits can be used, they will be locked down to a particular fare category or 'bucket'. So if you hold $500 in flight credit you won't be able to just buy any ticket and put that $500 towards it, there will need to be an available seat of that fare type on the flight you want.
https://www.executivetraveller.com/v...flight-credits
We’ll see more of this. In this case ticket holders are essentially being offered ID0 standby tickets as a one for one replacement for a full fare confirmed ticket. With very little cost to the company hundreds of millions of dollars of debt will be wiped off the books.
Lots more of these smoke and mirrors magic tricks to come.