IAG-owned British Airways and Irish Ryanair are being investigated for violating competition laws by refusing to refund customers for flights that were impossible to legally carry out during the pandemic quarantines, according to a press release from the British competition authority CMA.
British Airways offered its customers compensation in the form of traveler's checks while Ryanair offered rebooking, but neither company gave the money back, which according to the Swedish Competition Authority they should have done.
”People cannot be held financially responsible for following the law after buying tickets in good faith,” says Andrea Coscelli, director general of the Competition Authority.
An investigation into the matter was opened in December after the companies refused to refund money to travelers who were unable to fly.
Despite the news, trading IAG and Ryanair shares rose 1-2 percent on Wednesday. Sector sentiment in Europe appeared strong on the day. Both Lufthansa and Air France-KLM shares rose around 2 percent and SAS shares were up 3 percent.
The United States has eased travel advisories for over 110 countries.
Source: Direct News Agency
