The Marker is reporting that El Al will offer travelers the option of accepting a travel voucher equal to 120% of the ticket price if they agree to forgo a cash refund for their cancelled flights. In other words if you spent $1,000 on a cancelled ticket you would get a $1,200 voucher that will be valid for 2 years.
So far, El Al has only refunded select passengers on US flights who complained to the DoT about not receiving a refund.
I’ve been recommending that El Al make an offer like this for months, so it’s good to see them finally come around to it.
The risks are that El Al could go under, which would render the voucher worthless. But it seems unlikely that the Israeli government will allow that to happen.
The other risk is that we still have no idea when travel will return to normal, though 2 years is a decent amount of time to use the voucher.
Plus, cash is king, especially with an uncertain economic outlook.
However it’s not every day that you can get a 20% bonus on your airfare dollars, so if you know you’ll fly to Israel in the next couple years, it’s a pretty sweet offer.