Every passenger is entitled to compensation of €250,€400, or €600 against European airlines or non-European airlines departing fromEurope in the case of:
1. Delay Over 3 Hours
2. Cancellation
The upcoming sessions will explore the impact ofdelays exceeding three hours and cancellations on market capitalization. Thisanalysis aims to identify the financial consequences associated with theseoperational disruptions.
1. Delay over 3 Hours:
On average, there are over 30,000 flights per dayacross Europe, and almost 40% of them experience a delay.
Each airline in Europe faces an average of 30 delaysexceeding 3 hours every month. If each flight carries about 150 passengers, andeach passenger is entitled to at least €250 in compensation, then each airlinecould pay out more than 1 million euros monthly for these delays.
2. Cancelation:
In the case of a cancellation, a passenger may beentitled to compensation based on the flight distance:
In the event of a flight cancellation on averageEuropean routes under 1,500 kilometers, airlines are required to pay more than €37,500in compensation for a single flight with around 150 passengers, based ona minimum of €250 per passenger. This compensation comes on top of the requiredrefunds for ticket prices and any related accommodation costs usually incurredon these routes.
Europe sees an average of over 10,000 flightcancellations per month. For flight routes under 1,500 kilometres, passengersmay be entitled to €250 each in compensation. This means that for a singleflight with around 150 passengers, an airline might have to pay over €37,500 incompensation. Given the 10,000 flights cancelled each month, the totalpotential compensation could exceed €300 million monthly.
As we have explored, focusing on the rights of flightpassengers in cases of delays and cancellations not only upholds consumerprotection but also presents a significant financial consideration for airlinesand investors alike. By ensuring robust compensation mechanisms, airlines canenhance their customer service and reputation, while investors have theopportunity to support and profit from innovative solutions that facilitatethese processes. In this thriving market, investing in technology that efficientlymanages passenger compensations can be a wise move, offering substantialreturns as the demand for fairness and transparency in air travel continues togrow. Engage with our solutions to see how they can transform your approach topassenger rights and boost your business performance.
