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What happens if your Airline goes bust (bankrupt, discontinues services)
I always like to be prepared and know my options. There is a better than average possibility that the bubble will burst in China fairly soon. (Dont believe me? So why are all the uber rich and top companies in China moving assest etc overseas?) Ethiad is cutting deep on services due to financial issues etc etc. So where do we stand in New Zealand? Joe Blow buys his $4000 NZD ticket on China airlines online. China airlines does a whoopsie! shuts up shop and…. Are there any insurances one can take out? Does the Consumer guarantee act thingy here in NZ cover that ? I personally am after a general answer every case will have its differences but interested in a overview?
update. State Travel Policy
We will not pay for.
25. claims arising from the failure of any travel agent, tour
operator, accommodation provider, airline or other
carrier, car rental agency or any other travel or tourism
services provider to provide services or accommodation
due to their Insolvency or the Insolvency of any person,
company or organisation they deal with.I don’t really know where we stand. All I can recommend is finding good travel insurance and seeing if they’ll cover this.
Or flying mainstream carriers. Alitalia has been in financial difficulty for a longtime and still flying. I can’t see airlines like Lufthansa going bust. The main Chinese carriers I can think of are Air China, China Eastern, Southern. You could probably do a bit of googling for their financials and then book if you’re comfortable.
There seems to be a warning period before airlines go bust and actually stop flying. I guess I’m also hopeful the government will bail out their ‘national carrier’. Not sure which one that is for China. So it can stall the process of going bust and if possible you could cancel if you don’t think you’ll complete your flight in time. I’d happily extrapolate my assumption to other large carriers around the world.
I’m not familiar with any of the financials of the Chinese or Taiwanese carriers but I’m more than happy to book the Taiwanese carriers currently. If they’re good – I’m on it!
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