Some UK-based airlines say they are still holding millions of pounds in unclaimed travel vouchers, nearly three years after they were used to refund travellers due to the COVID pandemic.
IAG, owner of British Airways, Iberia, and Aer Lingus, has reported in its full year results that it has more than £575m (R12,5bn) worth of unclaimed vouchers, while easyJet reported £111mn (R2,4bn) worth of unclaimed vouchers on its balance sheet.
According to the Financial Times, the vouchers had been given to travellers affected by flight cancellations during the pandemic, and the idea is that they be used to rebook flights with the airlines.
The number of unclaimed vouchers highlights their controversial use during the pandemic, where major airlines had encouraged travellers to accept vouchers, rather than ask for cash refunds when COVID-19 caused flight cancellations, reaching back to the first quarter of 2020.
British Airways claims to have proactively contacted travellers to remind them to redeem the vouchers, and more than 700 000 were redeemed last year. EasyJet said the unused vouchers only accounted for about 2% of its 2019 revenues, indicating that a very small portion of travellers had not yet redeemed their vouchers.
Business Traveller reports that BA has extended the validity of its travel vouchers to September 20 this year, while easyJet vouchers are valid until July 31, 2023.
