“Passengers left stranded in the rare and unfortunate event of an airline bankruptcy will be offered rescue fares from airlines to ensure they can get home,” said IATA’s director, general and CEO Tony Tyler.
IATA airline members flying to and from the European Union will provide the passengers with the rescue fares, and passengers will be given access to discounted fares. For customers who didn’t purchase travel insurance the rescue fare will be available for up to two weeks after the financial failure.
The association has estimated that between 2011 and 2020 that only .07 percent of customers could experience this travel difficulty. The IATA represents 84 percent of all global air traffic.
“This agreement on rescue fares shows that the airline industry is more determined than ever to ensure reliable and consistently excellent customer service,” said Tyler.
For more information visit, www.iata.org