Flight, Lodge Journey Credit Set To Expire

Credits and IOUs for travel will expire in the near future, creating an upcoming puzzle for travelers. The Wall Street Journal reported. A number of air carriers provided individuals with a COVID-19 extension through the end of 2021 when the IOU expired. However, many travelers do not think they will be traveling this year, especially to destinations in Asia or Europe.

Filings with the US Securities and Exchange Commission indicate that the four largest US airlines – Southwest, Delta, United, and American – had $ 10 billion in unused travel credit as of the end of last year.

Beyond the airlines, the WSJ reported that a person paid $ 1,300 for accommodation in France for a trip that was canceled due to COVID-19. While the hotel gave the individual a year and a half to issue the loan, American tourists still cannot travel to this country, and the individual does not believe they will cross the pond in 2021. The hotel allegedly says that it intends to refund the person once the voucher expires, which French law allows, but the traveler is not sure if this will happen.

Business travel management company TripActions reports that nearly 30 percent of unused travel credits in its system expired in the first quarter or will expire by the end of March.

Airline income decreased In the fourth quarter, as in all other quarters of last year, COVID-19 served to fundamentally anchor the sector worldwide. However, airline heads were optimistic about the return of the market, especially with the introduction of vaccines that will allow people to travel safely again.

“We have been encouraged as more and more customers travel, and we see a path to gradually improve our sales, financial results and daily cash consumption,” said Delta Airlines CEO Ed Bastian in a press release, as previously reported.