Originally Posted by
Adam Smith
And if you ultimately end up having to finance LX or LH group via your tax dollars, at least the government will get some interest payments, equity, etc as compensation, whereas you as a consumer are getting absolutely nothing in exchange for your financing.
Some carriers offered vouchers with an uptick in redemption value, akin to a (risky) return on your cash. I think TAP's was 20%, though they rather ruined things by giving their bonds a life of two years, during which they were valid for transport, but after which they expired valueless.
Lufthansa's lavish EUR50 bonus for those willing to reschedule rather than receive a refund was a flawlessly modest version of this.
If the bond-issuing airline goes belly-up voucher-holders will likely be at the back of the queue of unsecured creditors, having given up their recourse to cash-back.
So best free yourself of Stockholm inhibitions. Don't treat the airline as you might a friend going through hard times. Insist on a refund. If it doesn't materialise get your bank/credit card to help recover it: if you are in no hurry, fine, wait. But don't delay things through misguided altruistism or sentimental concern about the airline.