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Stock impact report

US slaps $2.5m in fines on three airlines for Covid refund delays [Yahoo! Finance]

AIR FRANCE-KLM ADS (AFLYY) 
Company Research Source: Yahoo! Finance
The department said that it is assessing the total of $2.5 million in civil penalties against Lufthansa, South African Airways and KLM Royal Dutch Airlines for extreme delays in providing refunds they owed to passengers due to flights cancelled or significantly changed in response to the impact of the Covid-19 pandemic. Under the consent orders, the three airlines are required to provide timely refunds to passengers when owed and to pay a civil penalty to the US Treasury. The fine imposed by DOT is in addition to the more than $900 million in refunds airlines have paid back to passengers. Lufthansa will have to pay $1.1 million, KLM has been fined $1.1 million and a $300,000 penalty has been imposed on South African Airways. The enforcement actions are part of the DOT's ongoing work to ensure passengers are treated fairly by airlines, that has already resulted in the largest airline fines in the department's history and nearly $4 billion returned to passengers in refunds and Show less Read more
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