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Stock impact report

New federal rule to guarantee hassle-free airline cash refunds, administration says [MSNBC.com]

Southwest Airlines Company (LUV) 
Last southwest airlines company earnings: 4/28 06:00 am Check Earnings Report
US:NYSE Investor Relations: investors.southwest.com
Company Research Source: MSNBC.com
A federal rule announced Wednesday will require airlines to quickly give cash refunds — without lengthy arguments — to passengers whose flights have been canceled or seriously delayed, the Biden administration said.“Passengers deserve to get their money back when an airline owes them — without headaches or haggling,” Transportation Secretary Pete Buttigieg said in a statement.The rule from the Department of Transportation says passengers who decline other reimbursement like travel credits are to get a cash refund.It applies to canceled flights or when flights have a “significant change,” the administration said.A “significant change” includes when departure or arrival times are three or more hours different than scheduled for domestic flights or six hours for international flights, and also cases where the airport is changed or connections added, it said.Passengers are also to get a refund when their baggage is 12 hours late in delivery for domestic flights.The new rule comes after pr Show less Read more
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