Jet2.com Statement: Spain - All flights cancelled
Join Date: Oct 2019
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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.
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.
Join Date: Aug 2007
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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.
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.
Sadly just being realistic but trust me I would be delighted to be proved wrong..Fingers crossed I am..
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.
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.
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.
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.
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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.
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.
