Travel Up Ltd has taken out insurance cover through IPP Ltd with certain Underwriters at Lloyd’s under policy number B0429 BA1800940 / 24117 CORP ,which provides Scheduled Airline Failure Insurance (SAFI) coverage for the benefit of Travel Up Ltd clients. Travel Up Ltd is the policyholder, and has direct rights against Underwriters. These rights are held for the benefit of (and in trust for) Travel Up Ltd clients in the event of “Financial Failure up to £2000 claim if the airline liquidates before your scheduled flight”
If you have booked a flight through Travel Up Ltd and the airline that you are due to travel with goes into liquidation prior to your outbound flight or, whilst you are away, prior to your return flight, we will make a claim under our policy for the cost of your flight(s). If our claim is successful, we will refund you (to the extent paid to us under the policy and up to a maximum of £2000) the cost of your flight(s), or we will put the refund towards a new booking on an alternative flight, or flights, of a similar standard so that you may complete your journey.
Scheduled Airline News
Financial situations of Airlines throughout the world are constantly changing which is why we recommend you opt for SAFI when you book flights.
Please note that cover will not be granted on any ‘start-up’ airline without written consent of the Insurers, as well as any airline that has been flying scheduled services for less than one year.
We would like to advise that Scheduled Airline Failure Cover is not available on MAX JET, EOS or SILVERJET without written confirmation from Insurer.
ZOOM AIRLINES – Cover not available with effect from 28th August 2008 following financial difficulties.
EURO MANX – With effect from 9th May 2008. See Euro Manx website for other carriers accepting tickets.
NATIONWIDE – Cover not available following the grounding of their aircraft with effect 2nd December 2007.
UK INTERNATIONAL – Cover not available as a new carrier.
AIRBLUE- Cover not available at the present time.
AIR JAMAICA - Following press speculation that Air Jamaica will cease flying in or out of the UK after the 27th October 2007, we believe it would be prudent for Agents to review their policy on issuing tickets, where travel either out or to the UK occurs after the aforementioned date until the matter has been clarified. Scheduled Airline Failure will therefore not be operative where the tickets were issued after the 24th May 2007. All cover will still be operative where the tickets have been issued prior to the 25th May 2007, irrespective of the date of travel. We would stress that this is purely a precautionary measure, as no formal announcement has been made by the Airline and this notice should not in any way be taken as a few of the financial standing of the Airline.
Following the reorganisation of Varig and they being recently taken over SAFI cover has been reinstated for the new Organisation.
The following Carriers have filed for Insolvency or are in Bankruptcy Protection. They are therefore not covered under the Scheduled Airline Failure Protection policy with effect from the date of filing : -
EOS with effect from 26th April 2008, although they have never been covered under the SAFI policy.
OASIS with effect from 9th April 2008.
CITY STAR with effect from 1st February 2008.
MAXJET with effect from 24th December 2007, although they have never been covered under the SAFI policy.
Bolivian Carrier LLOYD AEREO Boliviano 4th April 2007.
Swedish Carrier FLY ME with effect 2nd March 2007.
Spanish Carrier AIR MADRID with effect from 15th December 2006.
AJET (formely Helios Airways) although principally a charter carrier, ceased operations on the 2nd. November. In accordance with Underwriters terms as a 'start up' carrier scheduled airline failure is not operative.
BWIA have stated on the 8th September 2006 that they will not be operating any further flights after the 31st December 2006. Although they have stated that tickets will be honoured after the 1st of January 2007 by Caribbean Airlines, at the present time no cover is available on tickets issued on BWIA after the 8th September 2006.
Austrian Carrier STYRIAN SPIRIT with effect from 27th March 2006.
U S Carrier FLY i INC. with effect from 7th November 2005.
Greek Carrier OLYMPIC with effect from 18th October 2005.
Swedish Carrier SWEFLY ceased flying from 2nd September 2005.