Refundable Air Tickets: Are They Worth It?
AllFly says planners should crunch the numbers carefully before purchasing refundable tickets for a group. It seems like a no-brainer that meeting planners should purchase refundable group tickets, as all refunds will go directly back to the original method of payment, not individual travel. In the event of cancellation, the value of the non-refundable economy class ticket will usually become an electronic credit in the traveler's profile. But business travel management companies say that in reality, this is not always a cost-effective policy full flight. “Save money by avoiding refundable tickets to corporate events,” says AllFly’s Kenny Totten. “Non-refundable fares coupled with clear travel policies avoid costly refunds and maximize savings.” Totten provides an AllFly case study example of how the math can work out a non-refundable fare in your favor. Consider hosting a spring event in Cancun with 100 attendees and an expected cancellation rate of 5%. "On average, five people in this program will cancel," he said. "The…
Refundable Air Tickets: Are They Worth It?
AllFly says planners should crunch the numbers carefully before purchasing refundable tickets for a group. It seems like a no-brainer that meeting planners should purchase refundable group tickets, as all refunds will go directly back to the original method of payment, not individual travel. In the event of cancellation, the value of the non-refundable economy class ticket will usually become an electronic credit in the traveler's profile. But business travel management companies say that in reality, this is not always a cost-effective policy full flight. “Save money by avoiding refundable tickets to corporate events,” says AllFly’s Kenny Totten. “Non-refundable fares coupled with clear travel policies avoid costly refunds and maximize savings.” Totten provides an AllFly case study example of how the math can work out a non-refundable fare in your favor. Consider hosting a spring event in Cancun with 100 attendees and an expected cancellation rate of 5%. "On average, five people in this program will cancel," he said. "The…
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