Is there a secondary market for VA travel credit (Gumtree?) and how is this managed at all ?

[ja1]

I've noted a bunch of posts which indicate a lot of people have travel credit with VA.

What are people actually doing at this point ?

1) Waiting to see what happens ?
2) Booking things using the credit ? To then cancel and recredit in the future?
3) Selling it on a secondary market (here? Gumtree?)

What's the actual regulation or secondary market value if anyone has opinions..

Clearly there's optimistic expectations for some.. but perhaps they are being realistic..

 

[Happy Dude]

The conditional credit can only be used by pax on the cancelled tickets. It's not the same as travel bank. All bets are off after Aug 15. I doubt that cancelling for a credit to be used after then would be possible.

I'm using mine to travel between CBR-BNE to visit a terminally ill relative.

 

[ja1]

That's worth pointing out I guess:

- VA have refunded people directly in some cases (?)
- VA have refunded people into Travel Bank - effectively a voucher (an IOU)
- VA have refunded people into a conditional credit

If you're in category 1 then there's really no issues..
If you're in category 2 - what do people intend to do?
If you're in category 3 then you need to rebook - before Aug 15th ?

 

[Happy Dude]

@ja1 -
1. Not since admin kicked in and some chargebacks have been clawed back but more commonly denied (using Federal Court ruling administrator as basis)
2. TravelBank can be used as normal, but the current conditions do not inspire (uncertain future, closed borders, very limited schedules, reduced routes, relatively high ticket prices, no lounges etc)
3. all travel using a conditional credit must be booked and completed by 15 August 2020.

 

[JSavill]

it depends on the fare class you booked in. VA only refunded those in refundable booking classes (B&Y) if booked before the date they went into Voluntary Admin. All the rest can be held in credit. then they brought in the new option that you can use the credit if booked and travelled before 15 August but as there are so few options to do that and Bain Capital have confirmed they will honor all credits then I'm just waiting to use mine.

 

[ja1]

I guess I would summarize by saying.. there's no market as such for either Travel Bank credit or conditional credit (and especially in the latter case if it can only be used by the original PAX to travel). And definitely no regulation around it.

I've seen a number of instances of Travel Bank credit advertised but haven't found any guidelines on what level of discount people look for. Most seem to start at 10% but some are more than that (20%). I've seen one add offering to buy travel bank credit for 25% discount but it was a relatively low amount requested.