It’s an equation with the coronavirus crisis is almost impossible to solve. According to the International Air Transport Association (IATA), airlines will have to spend nearly 55 billion euros in the second quarter with a net loss of 35 billion euros due to the grounding of the aircraft.
At the same time, the amount of plane tickets for flights to be carried out over the next three months, and which by necessity will not be used, amounts to more than 31 billion euros… A sum that passengers, at least on paper, could request a refund.
This is particularly true in Europe where the regulations are favorable to passengers. On March 18, the European Commission also argued that passengers whose journeys were canceled could choose between reimbursement of the ticket price or be routed to their final destination at a later date. At stake for European airlines, 9 billion euros.
Except that the current financial situation makes it impossible for most airlines to make these refunds.
“A question of survival for companies”
To try to limit the shock, several companies like Air France, Easyjet offers a “credit” for the amount of the ticket valid for one year. If this sum is not used up, it will be refunded.
According to La Tribune, French travel agencies say they are favorable in principle but ask that the sums of the tickets to be reimbursed be placed in escrow accounts in order to allow reimbursement in the event of the disappearance of the airlines.
