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The ACCC put out a press release this morning saying that Etihad had agreed to give full refunds to all passengers that bought tickets in Australia whose flights were cancelled due to COVID-19. This includes passengers that have already accepted travel credits.
www.accc.gov.au

Etihad offers refunds for all cancelled flights purchased in Australia
The ACCC has welcomed Etihad’s recent decision to offer refunds to all consumers who purchased Etihad tickets in Australia which were then cancelled due to the COVID-19 pandemic.