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Flights getting cut back during airline financial crisis |
Written by Andy Adams
Wednesday, 15 October 2008
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Chances are whoever you are you will have been affected in some way by the current financial crisis, whether it's being rejected for a mortgage or having to rearrange your savings and investments to make sure you don't lose out. It isn't just the average Joe that has been affected; many companies and businesses in all sorts of sectors have struggled and some have either gone into administration or at the very least have had to cut back on spending and hiring. The airline industry has felt this impact more than most with the double header of the rising cost of fuel and the fact that many of us are spending less on our holidays due to this mess, so airlines have been seeing less of a profit over the past year for sure. From British Airways to XL holidays each end of the spectrum of flights companies have been affected. How each company has been affected varies however; XL holidays recently became infamous for closing up shop very suddenly and leaving many travellers with no holiday or worse, left stranded in a foreign country. The incident was exacerbated by the fact many people had booked their cheap flights outside of a package holiday which would guarantee them alternative arrangements with ATOL (Air Travel Organisers' Licensing) if their chosen flight company was to cease business. Elsewhere airlines as large and recognized as British Airways have had to cut back on the number of flights they offer. They have even managed to earn the title of Worst Airline for cancellations with one in fifty of their flights being cancelled as of late. The price of flights has gone up recently with fuel surcharges being added to the total cost leaving a bitter taste in customer's mouths. It is highly advised that anyone who has booked their holidays recently, or are looking to for next year, should be careful to include travel insurance so that should their flight get cancelled or significantly delayed then they would remain protected against a substantial loss. When you consider that many more expensive trips like New York and Florida being very popular tourist destinations then this means having flights to the USA cancelled would mean a large amount of money could be lost for a family trip. It is best to find a holiday that would cover you with ATOL backed holidays that won't leave you high and dry. Article Source: http://www.ArticleBlast.com |
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