“They are telling us that they are not prepared to
commit to travel because of the uncertain situation with
when the travel restrictions will be relaxed,” explained
Jackson of Compass. “Many are also concerned for their
financial situation with job loss and retirement savings
dropping with the market downturn.
“Travel Insurance is also a big concern for our customers
as Insurers are refusing to cover any claims that are
related to epidemic / pandemic cancelations, delays or
loss of deposits etc,” he continued. It is becoming evident
as this situation continues that insurance is becoming
a greater problem.
Reputable businesses will always follow local laws
and ensure a full refund is returned where required and
during normal operation this is business as usual however,
during a downturn with mass requests for refunds
it often sees a great reverse in the flow of cash, in times
like this all business needs to maintain and conserve
cash.
“We made the decision to offer all of our customers,
who were booked on tours that have been cancelled
due to the travel restrictions, a full refund, as opposed
to a credit to rebook like most of the travel industry has
done,” Jackson went on, explaining that Compass had
made this decision as they knew that locking away large
deposits during these uncertain times when people need
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