Go Back  PPRuNe Forums > Flight Deck Forums > Rumours & News
Reload this Page >

Jet2.com Statement: Spain - All flights cancelled

Rumours & News Reporting Points that may affect our jobs or lives as professional pilots. Also, items that may be of interest to professional pilots.

Jet2.com Statement: Spain - All flights cancelled

Old 29th Mar 2020, 22:20
  #21 (permalink)  
 
Join Date: Oct 2019
Location: UK
Posts: 0
Likes: 0
Received 0 Likes on 0 Posts
In fact if you just do a quick ask around, more difficult now, you will see the lack of inclination to even think about a holiday.
I think that the overwhelming sense is that people canít wait to book a holiday as soon as travel is permitted.
flocci_non_faccio is offline  
Old 30th Mar 2020, 07:44
  #22 (permalink)  
 
Join Date: Oct 2019
Location: Wolverhampton
Posts: 407
Received 0 Likes on 0 Posts
Originally Posted by flocci_non_faccio
I think that the overwhelming sense is that people canít wait to book a holiday as soon as travel is permitted.
I think I'd like to know whats happening to mine first. 6 weeks to go and no idea if we is or if we ain't.
If we ain't, then refund us.
I think Simon Calder has said that the holiday companies, and that must include my beloved Jet2 have approached the Gov for permission NOT to refund for 2 YEARS!
That little snippet seems to have missed these pages.
Flying Hi is offline  
Old 30th Mar 2020, 08:01
  #23 (permalink)  
 
Join Date: Aug 2007
Location: West Yorkshire
Posts: 635
Likes: 0
Received 0 Likes on 0 Posts
Originally Posted by rotorwills
Considering that travel,insurance will be a big issue in holidaymakers I cannot see a very positive. In fact if you just do a quick ask around, more difficult now, you will see the lack of inclination to even think about a holiday. Considering also the economic disaster for the average working joe again is going to have a extreme adverse upon the holidaymakers. Conclusion really points to airlines that handled large amount of holiday traffic will suffer the most.
Air traffic between locations serving family and business connections will be better placed. Of the loco still about, their survival is logically pointed to FR, Ezy and Jet 2 in that order.
Already travel insurers will not cover anyone for pandemic/virus or any other nasty that might cause them to pay out and renewal premiums are rocketing..Their next trick will be the question `Have you ever received a 12 week self isolate letter from the NHS?` if the answer is yes they will decline cover or the cost will be more than the holiday. Yes people will be desperate to get away, but for many, who would otherwise have done, it will be a struggle for survival. Not all jobs can be sustained, going forward. For those poor souls a holiday will be a dream not an aspiration.
Sadly just being realistic but trust me I would be delighted to be proved wrong..Fingers crossed I am..
paully is offline  
Old 30th Mar 2020, 08:09
  #24 (permalink)  
 
Join Date: Nov 2004
Location: heathrow
Posts: 294
Received 0 Likes on 0 Posts
I had heard this snippet too. Firstly, don’t believe everything Mr Calder says or writes. Secondly, if the airlines/ tour operators try to delay refunds, they will run into problems with their credit card accounts. People refused a refund will run to their card provider for a refund, and these providers will hold back funds from the airline. We have seen issues with credit card provisions being the straw that broke the camel’s back on several recent airline failures.
I can see that in future, prepayments on airline tickets will have to be held in some sort of escrow account until the service you have paid for is actually provided. Airlines would be able to borrow against these prepayments, but not draw on them until the flight was complete. With the obvious problems ahead for the industry, I can not see the public or credit card companies willing to lend vast sums, unsecured,for many months ahead of a service being provided.
cjhants is offline  
Old 30th Mar 2020, 10:16
  #25 (permalink)  
 
Join Date: Oct 2002
Location: London UK
Posts: 7,651
Likes: 0
Received 18 Likes on 15 Posts
This is all slightly surprising. When you pay with Visa/Mastercard etc the money does not go straight to the operator's bank account. It goes to an intermediate financial organisation called a Merchant Card Provider, there are several, selected by the operator. They take your money (straight away) and hold it until released to the operator. There is a negotiated formula for how it is released dependent on the creditworthiness of the operator, but for holidays the bulk is held on to until advised that the service has actually been delivered. There's even interest paid to the operator, though not much nowadays. The operator can do refunds from here. This is how, if the operator goes under, the credit card organisations can refund the money - it never went through to the operator in the first place. MCPs are the ones who provide the terminals, which is how the same desktop terminal can serve all of Visa, Mastercard, etc.

MCPs moving the percentage they hold on to until service is complete is a common cause for airlines etc finally going under, when the percentage held gets moved from say 80 to 100 percent.

It appears in the operators' accounts as an Accounts Receivable asset.
WHBM is online now  
Old 30th Mar 2020, 10:25
  #26 (permalink)  
 
Join Date: Feb 2002
Location: uk
Posts: 302
Likes: 0
Received 0 Likes on 0 Posts
The consensus is that, while this is not going to go away, it will recede into the background somewhat. If you can't then take your flight or holiday due to infection it will be one of those things, similar to not turning up for a concert, festival, train journey or whatever. The credit companies won't get involved.
While not making light of the seriousness of the situation now, the large scale enforced cancellations won't be a factor when borders start to reopen.
It maybe that people won't be able to rely on insurance to smooth out every wrinkle in their lives.
This is the situation for almost everybody in the World anyway.
16024 is offline  

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Thread Tools
Search this Thread

Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service

Copyright © 2024 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.