Many airlines have folded or declared bankruptcy due to coronavirus. Here's what it means for travelers:
Many airlines have folded or declared bankruptcy due to coronavirus. Here's what it means for you.So what does all this mean for consumers, especially when it comes to your miles and refunds? Here’s what you need to know:Unfortunately, there’s no guarantee that an airline going into bankruptcy will reimburse passengers for their outstanding tickets, since investors would be paid back first.
One avenue to explore: Go to your credit card company and request a refund or charge back. And be aware that timing is critical. According to the Fair Credit Billing Act, consumers only have 90 days after they make a purchase to file a claim.If an airline liquidates, travel insurance might help. But be sure to check the fine print, as it’s not a guarantee.
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