According to the Airline Insolvency Review, solicited by the government after Monarch airlines went bankrupt, more than a million passengers will be affected by an airline’s insolvency by 2030. Today, it would affect around half a million. The increase in the scope of consequences that an airline’s bankruptcy would have will keep up with the increase in passengers and demand within the airline industry in Europe.
According to said review, published here, one in 200 passengers will be affected by an airline’s bankruptcy in the following 15 years. The inevitability of some small airlines going out of business leaves no doubt whether an incident like what happened to Monarch or Air Berlin will occur in the near future. This, of course, will mean that thousands of flights will be cancelled or delayed because of airlines going bust.
Has your flight ever been cancelled or delayed? Did you know that you are entitled to compensation?
Your passenger rights are covered by Regulation EC 261/2004. So if your flight has been cancelled or delayed, you may be entitled to monetary compensation. In the case of an airline going bankrupt though, it is very likely that you won’t be able to claim compensation. However, if your flight has been delayed or cancelled due to a mistake made by your airline, then you could be very well entitled to receive compensation of up to £530! Check your flight here: