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Chances of losing my money following AZ bankruptcy

Chances of losing my money following AZ bankruptcy

Old May 1, 17, 1:36 pm
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Chances of losing my money following AZ bankruptcy

Hello,
I'm scheduled to take a TLV-ATH flight this upcoming Aug with AZ (didn't think they hold this line but it was the cheaper non stop solution for us).
I can still cancel for $70 and rebook with someone else.

I'm not clear though on the happening - maybe someone can give me a better idea - if they go bankrupt, I'm assuming I loose my ticket? Should I be worried and cancel, or stick to the ticket and hope for the best?

I know it's a thin line, but wanted to ask you guys from your knowledge of AZ unstable situation..

Thanks!
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Old May 1, 17, 2:53 pm
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Yes, in such a case yout ticket would loose its validity...
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Old May 1, 17, 4:14 pm
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How much do you value peace of mind? For the small sum of $70 you could change carriers and not have any worries for the next 4 months regardless of what happens to Alitalia.
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Old May 2, 17, 1:33 am
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Originally Posted by BApilotinsider View Post
How much do you value peace of mind? For the small sum of $70 you could change carriers and not have any worries for the next 4 months regardless of what happens to Alitalia.
I would imagine that new tickets might be more expensive, and also OP mentions "us", meaning there is more than one ticket involved, AZ cheapest fare is 175$ while A3 is already at 210$, and that is only at the end of August, with August being summer holidays in Israel it will be very hard to find cheap tickets any more if limited to a specific destination as well as possibly specific dates (if there are non-refundable hotel bookings)
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Old May 2, 17, 5:39 am
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https://www.ft.com/content/b4ac4314-...a-5962ffd9b1f7
Alitalia has filed a request with the Italian government to enter administration proceedings, in a process that will lead to the sale or liquidation of Italy’s flag carrier...
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Old May 2, 17, 5:51 am
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Thanks but better placed in the relevant thread (I have indeed re-posted as necessary).

Cheers

G
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Old May 2, 17, 7:48 am
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Originally Posted by Ditto View Post
I would imagine that new tickets might be more expensive, and also OP mentions "us", meaning there is more than one ticket involved, AZ cheapest fare is 175$ while A3 is already at 210$, and that is only at the end of August, with August being summer holidays in Israel it will be very hard to find cheap tickets any more if limited to a specific destination as well as possibly specific dates (if there are non-refundable hotel bookings)
Exactly! It'll be 5 tickets, plus the fare of rerouting everyone on A3 will be $200 more per ticket...
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Old May 2, 17, 9:10 am
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Originally Posted by rebech34 View Post
Exactly! It'll be 5 tickets, plus the fare of rerouting everyone on A3 will be $200 more per ticket...
If you have some sort of "buyer protection" or "travel insurance" either as stand alone or via a credit card, then I would definitely suggest reading the fine print and seeing if they cover bankruptcies of business. If so I wouldn't change anything.

Otherwise, I'd probably cancel everything with AZ and rebook with someone else. Paying more is certainly not great, but better than losing the money, tickets and still having to book new tickets.
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Old May 5, 17, 10:28 am
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In some other thread, someone suggested that there some EU protections that would require other (EU only?) carriers to accept the tickets of a bankrupt airline, presumably on a space available or standby basis. I'd suggest that the OP investigate whether this is true and then read that fine print carefully before making a decision.

It could be very hard to get five reasonable tickets on the same flights as August approaches. If there's flexibility, why not rethink vacation plans and consider other destinations and/or dates. Of course, if you have nonrefundable hotel reservations or family commitments, this won't work.
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Old May 5, 17, 11:43 am
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Originally Posted by MSPeconomist View Post
In some other thread, someone suggested that there some EU protections that would require other (EU only?) carriers to accept the tickets of a bankrupt airline, presumably on a space available or standby basis. I'd suggest that the OP investigate whether this is true and then read that fine print carefully before making a decision.
This is not true. No other airline will honour AZ tickets in the event of a failure and no-one would dream of requiring any other airline to do so.

You can expect Ryanair to advertise "Rescue Fares" on certain overlapping routes and for airlines to scramble to add flights to Italy but there would be no free flights for AZ ticket holders.
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