Here is an interesting article in the
NY Times concerning airlines and financial default.
Ticket Protection for Air Travelers
By THE NEW YORK TIMES
Published: December 9, 2004
Passengers booked on airlines that go out of business will be able to pay a $50 fee to fly on airlines that will honor their tickets under a section of the intelligence overhaul bill passed by Congress yesterday.
The one-year extension of the fee was contained in an amendment to legislation passed by the House and Senate and sent to President Bush
The move was the third time that Congress has extended a law allowing passengers on defunct airlines to pay a fee and obtain tickets on airlines that fly the same routes, provided space is available.
The fee, which used to be $25, expired on Nov. 18. Consumers were concerned that the law would not be extended because of the uncertain fate of the intelligence bill and opposition by some airlines and credit card companies.
The fee, which can be no more than $50 for a round-trip ticket, applies to passengers who rebook their tickets within 60 days of an airline's disappearance. Passengers will be responsible for making arrangements with airlines that are willing to carry them.
