Airlines
EU Commission Urged to Introduce Passenger Protection Scheme Against Airline Insolvency
EU Commission Urged to Introduce Passenger Protection Scheme Against Airline Insolvency
The only way to effectively protect all factors affected by an airline bankruptcy is to impose an obligatory insolvency protection system in the aviation sector. A combination of European consumers, package travel sector leaders, online intermediaries, and insurance providers has asked the European Commission to turn words into actions.
ECTAA and eu Travel Tech urged the European Commission to include a requirement for airlines to provide financial guarantees covering their obligations to passengers in case of insolvency in its initiative for “better protection of passengers and their rights,” along with organisations representing European consumers and insurance providers..
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The responsibility for assuming the risks associated with their own operations should fall to the airlines, just as it does for other service providers in various business sectors. The co-signatories believe that no one should be held responsible for a company’s poor management, including customers, taxpayers, or package guarantee suppliers.
The co-signatories emphasise that the only way to effectively protect all parties affected by an airline bankruptcy is to compel the airline industry to adopt an insolvency protection system. Other suggested solutions to the disruptions and monetary losses brought on by airline insolvencies, such as encouraging travellers to purchase travel insurance or appointing specialised national agencies to handle repatriations, would not be fair to either consumers or Member States and taxpayers, respectively.
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“The creation of mandatory airline insolvency protection should be coupled with the strengthening of the licensing oversight of EU air carriers, but stronger monitoring should under no circumstances replace the need for mandatory airline insolvency protection,” concluded Emmanuel Mounier, eu travel tech Secretary General.
