I saw that in the announcement yesterday and was quite upset about it.
It will be a huge gain for COdbaUA. There are often 50+ people on the waitlist for these upgrades, and in the past we only paid when it cleared, knowing it usually doesn't. Now they will get everyones cash, and have to refund it all later. They are probably manging this money and earning a lot of interest on it. I would hate to part with $1,100 for 3 months knowing I probably won't get the upgrade. One of the many reasons I will now book all international trips on other carriers.
Now the scary part, what if they file for bankruptcy, will they then not have to refund us the co-pays if our refund doesn't clear?