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UK scraps action against Ryanair, British Airways

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Britain’s competition regulator has scrapped legal action against Ryanair and British Airways.

It had claimed the airlines failed to offer refunds to those prevented from flying by the global health crisis.

Instead of providing refunds to those legally unable to fly, IAG-owned British Airways offered vouchers or rebooking.

Ryanair provided the option to rebook.

The Competition and Markets Authority started action against the airlines in June.

It said passengers who were legally unable to take flights booked in good faith should have their money back.

But on Thursday (October 7) it said the law did not provide passengers with a sufficiently clear right to a refund in such unusual circumstances.

It concluded that the length of time that would be required to take the case through the courts, and the uncertain outcome, no longer justified further expense of public money.

Instead the CMA hopes the law will now be clarified.

Ryanair said it welcomed the decision.

British Airways said in a statement it had acted lawfully at all times, issuing nearly 4 million refunds and highly flexible booking policies.

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Will Australia’s foreign investment rule create an economic boost?

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Australian Treasurer Dr. Jim Chalmers announced an overall of foreign investment rules ahead of the budget.

Australia is set to announce a significant decline in its projected gross debt, signalling a more optimistic outlook for the country’s fiscal health.

The Airport Economist, Professor Tim Harcourt at UTS joins to discuss.

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Money

Research key to investment success

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What is the importance of research in the investing and super landscape in Australia?

Wyld Money dives into the world of financial freedom. Whether you’re a seasoned investor or just getting started, join us for actionable tips and tricks to unlock your earning potential, and retire on your own terms.

In this episode, Mark is joined by Peter Green, Director of Research at Lonsec Research. #wyld money

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Why “stagflation” will be the greatest financial threat of 2024

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With inflation soaring and economic growth tapering off, concerns about stagflation are on the rise

Stagflation, a situation characterised by high inflation coupled with stagnant economic growth, presents a unique challenge that many are ill-prepared to face.

Mark Wyld from MW Wealth joins to unpack what defines “stagflation”. #featured

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