Skip to content
Search

Latest Stories

UK scraps action against Ryanair, British Airways over refunds

BRITAIN'S competition regulator has scrapped its action against Ryanair and British Airways over their failure to offer refunds to passengers prevented from flying by Covid-19 restrictions, saying the legal position was unclear.

During pandemic lockdowns, instead of offering refunds to those legally unable to fly, IAG-owned British Airways offered vouchers or rebooking and Ryanair providing the option to rebook.


The Competition and Markets Authority (CMA) started action against the airlines in June, saying passengers who were legally unable to take flights booked in good faith should have their money back.

But it said on Thursday (7) the law did not provide passengers with a sufficiently clear right to a refund in such unusual circumstances.

Chief executive Andrea Coscelli said the CMA "strongly believed" the passengers should be offered a full refund.

"However, after considering the relevant law and gathering evidence in our investigation, we have concluded that the length of time that would be required to take this case through the courts, and the uncertain outcome, can no longer justify the further expense of public money," he said.

He added the CMA hoped the law would be clarified.

Ryanair said it welcomed the decision. "We operated a limited schedule during UK lockdowns for customers who travelled for essential reasons," a spokesperson said.

"Passengers had the option to change their bookings without paying the flight change fee, and many availed of this option."

British Airways said in a statement it had acted lawfully at all times during the crisis, issuing nearly 4 million refunds and offering highly flexible booking policies.

"We're grateful for (our customers') support at a time when we've been navigating dynamic and fast-changing travel restrictions to maintain a limited schedule," it said.

(Reuters)

More For You

Donald Trump

Trump signed an executive order increasing a previously imposed 10 per cent tariff on Chinese goods to 20 per cent, the White House said on Monday. (Photo: Getty Images)

Global markets slide amid escalating US-China tariffs

MARKETS fell sharply on Tuesday as trade war fears resurfaced after China announced new tariffs on US imports in response to President Donald Trump's latest levies.

China said it would impose tariffs of 10 and 15 per cent on a range of US agricultural imports in retaliation.

Keep ReadingShow less
Mortgage lending rises to highest since September 2022

Lending rose to £4.207 billion in January from £3.343 bn in December. (Representational image: Getty)

Mortgage lending rises to highest since September 2022

NET mortgage lending in Britain increased in January to its highest level since September 2022, while mortgage approvals declined slightly but remained above expectations, according to Bank of England data released on Monday.

Lending rose to £4.207 billion in January from £3.343 bn in December. This was the highest level since September 2022, when financial market turmoil followed the economic plans of then-prime minister Liz Truss. The figure was also higher than the £3.55 bn forecast in a Reuters poll.

Keep ReadingShow less
Paytm

The company clarified that these violations relate to a period before the two firms became its subsidiaries. (Photo: Reuters)

India's Paytm receives notice from financial crime agency over violations

PAYTM-owner One97 Communications has received a show cause notice from India’s financial crime agency for alleged violations of the Foreign Exchange Management Act (FEMA) related to the acquisition of two subsidiaries.

In an exchange filing, Paytm stated that the Enforcement Directorate (ED) issued the notice on February 28, citing contraventions between 2015 and 2019 linked to the acquisition of Little Internet Private Limited (LIPL) and Nearbuy India Private Limited (NIPL).

Keep ReadingShow less
Arms dealer Sanjay Bhandari wins UK extradition appeal

FILE PHOTO: Sanjay Bhandari

Arms dealer Sanjay Bhandari wins UK extradition appeal

AN Indian businessman on Friday (28) won his appeal against extradition from Britain, with London's High Court ruling there was a risk of torture or other mistreatment in his homeland.

London-based Sanjay Bhandari, 63 and described by his lawyers as a defence sector consultant, is wanted in India on charges of tax evasion and money laundering.

Keep ReadingShow less
'India needs to grow more to reach high-income status by 2047'

FILE PHOTO: A man walks past the lit up Bombay Stock Exchange (BSE) building during Diwali, the Hindu festival of lights, in Mumbai, India, November 1, 2024. REUTERS/Francis Mascarenhas.

'India needs to grow more to reach high-income status by 2047'

INDIA will need to grow at an average rate of 7.8 per cent to become a high-income country by 2047, according to a World Bank report released on Friday (28).

To achieve this goal, India would require reforms in the financial sector as well as in land and labour markets, the World Bank said in its India Country Memorandum titled Becoming a High-Income Economy in a Generation.

Keep ReadingShow less