The customers of the Jet Airways should have a sigh of relief as the cash strapped airline revealed that now it would validate claims for the flight ticket refunds within the time duration of 45 days. Customers have been seeking the refunds after the airline has stopped its operations last week.
“IATA (International Air Transport Association) will settle the monies post closure of Jet’s (Jet Airways) refund claim review period against the deposit held by IATA. It can also raise demand from Jet in case of a shortfall in refund claims and deposits held by it,” the airline said in a communication to travel agents on April 23.
Claims of the passengers who have also purchased tickets with the help of a credit card will be going to be validated by the Jet Airways and by the companies of the credit card every Monday. Jet Airways has been facing the money crunches since the February, and things seem to be worst after its founder Naresh Goyal and his wife Anitha stepped down from the Board of Director in the month of March while some of the lenders refuse to provide any of the emergency funds.
The airline used the billing tool of the IATA and settlement process gateway for the tickets which is booked with the help of its third-party agents. The latter made a single payment to the BSP, which in turns also made a consolidated payment to each of the airline.
But with the jet Airways having paused all its operations on the 17th of April,IATA too supported the suit by suspending the membership of the airline to its clearing house system.
All the applications for the refund submitted before the 18th of April are cleared by the IATA, and pay out have already been initiated, according to the report which has been revealed by the Mumbai based newspaper.
“We have been informed by IATA that the refund applications submitted after 18 April will take some more time to be cleared as per its guidelines. We don’t know how long yet,” said the travel agent.
The airline is also in talks with the trade body with a weekly settlement system in place with the travel agents.
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