United Kingdom
United States
Asia Pacific
ARC processed more than USD1 billion in Covid-19 refunds
Despite airlines’ sketchy record of issuing refunds for cancelled flights, Airlines Reporting Corp. (ARC) says it has processed more than $1 billion in airline cash refunds to U.S. travel agencies.
From 9 March to 12 July, 2020, more than $745 million in refunds was paid in cash, with the remainder given as credit toward agency sales.
ARC says that represents a 558% increase in cash refund volume compared to the same period last year.
Once the pandemic began to affect flight operations, ARC adapted its settlement schedule to streamline and speed up processing of refunds and credits.
"In a time of unprecedented refund activity facing the travel community, we had to ensure ARC’s systems could continue to support reliable, timely refund payments for our customers," said Lauri Reishus, ARC’s COO.
"ARC made it a priority to ensure agencies received the full balance of their cash refunds on time and in full, maintaining a constant flow of liquidity between airlines and travel agencies."
Jeannine Hankinson, ARC’s managing director of operations and customer experience said: "ARC’s participating airlines have been tremendously supportive of their travel agency partners during this crisis."
"The collaboration we have experienced with our customers during this volatile time demonstrates our industry’s resilience."
by Ray Montgomery, US editor
Related News Stories:
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
James Jin: Didatravel’s Journey from China to Global Reach and the Impact of AI on Travel
Darren Schaefer on Pensacola’s Evolution: From Small Town to Global Destination
Florida Tourism’s Next Frontier: Dana Young on Expanding Beyond the Classics
Patrick Harrison on Tampa Bay Tourism’s Resilience and Marketing Strategy
Bubba O’Keefe on Clarksdale’s Vibrant Music Scene
Commemorating Elvis and Embracing Tupelo’s Culture with Jennie Bradford Curlee
Craig Ray and the Expansion of the Blues Trail
Presenting Mississippi’s Cultural Trails with Katie Coats
Robert Terrell: A Journey Through BB King’s Influence
Rochelle Hicks: Celebrating Mississippi’s Musical Legacy
Exploring Jacksonville with Katie Mitura: The Flip Side of Florida
Tricia Handley-Hughes of Inteletravel announces the location for the TravelQuest 2025 conference
BA pilot dies during layover
Dozens fall ill in P&O Cruises ship outbreak
Turkish Airlines flight in emergency landing after pilot dies
Boy falls to death on cruise ship
Protestors now targeting Amsterdam cruise calls