Long road ahead for Velvet Sky creditors

2012-06-25 15:46
Budget airline, Velvet Sky, has been officially liquidated leaving those who bought tickets for flights scheduled for take-off after the airline stopped taking to the skies in late February to join the long list of its creditors.

IOL reports that the airline apparently owes its creditors almost R100 million.

According to Pretoria News' Consumer Watch columnist, Wendy Knowler, those who paid for their flights via EFT or cash are going to have to accept that all hope of a full refund has now evaporated. 

"When companies liquidate, creditors, especially the smaller ones, such as individual customers, can expect to get only what is referred to as "a few cents in the rand" - in other words, a tiny fraction of their losses, if anything. That's if they register their details with the attorneys appointed to handle the liquidation," she explained. 

Those who bought their Velvet Sky tickets at Computicket outlets were refunded by Shoprite, which owns Computicket, and many of those who paid for their tickets with their credit cards successfully applied for chargeback from their banks and have since been refunded.

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