Author: settainsaat

Flight Delay Claims ‘Out Of Control’

According to the European Regions Airline association (ERA), claims by consumers against airlines for compensation for delayed or cancelled flights are ‘out of control’ and the extent of the compensation culture is putting at risk the safety of airlines.

The Director general European Regions Airline association, Simon McNamara told reporters that: “There is a huge growth market in claims and the liability could be enough to close an airline.”

“There is almost no room for an airline to avoid paying compensation for a delay except for weather. It’s getting out of control and there is a link to safety.”

In recent years, the airlines have seen a huge increase in the amount of people making claims against the airlines as they try to claim compensation if they flight suffered a delay or cancellation of 3 hours or more. The average compensation figure for people who win their claims is: £510 per passenger.

Mr Mcnamara added: “There is pressure on safety with the ruling on a lightning strike. We have anecdotal evidence from members. We’ve expressed concern to the European Commission, as has Iata.”

“We worry proposals to develop guidelines on Regulation 261 may rubber-stamp recent court rulings and slow progress on revising 
the regulation.”

According to

Airlines want Regulation 261 revised to clarify rules on compensation but the revision process is stalled by a dispute between the UK and Spain over Gibraltar. Now the ERA is concerned a proposed EU Aviation Strategy, unveiled last month, will confirm court rulings extending compensation rights.

A major company in the field of helping people to claim flight delay compensation from the airlines is spoke to the websites claim manager Simon Anderson who said:

“This is just more scaremongering from the airlines. The comments about flight delay claims endangering flight safety is simply hearsay. There is no real evidence whatsoever that flight delay compensation is putting people at risk. No reputable airline carrier would ever put people at risk, in order to avoid paying compensation. The airlines should focus on ensuring that their flights arrive on time and then no instances for claims would arise in the first place.”

HSBC PPI Claims Causing Problems

London based banking giant HSBC, which along with other UK high street banks was involved in the massive mis selling of PPI, has been fined $6 million dollars, for failing to report suspicious banking activities.The Argentine government said it had levied the substantial fine, after the bank failed to report the movement of 3 million dollars by an association of bread bakers, which the government said was a clear case of money laundering.

Government officials railed against the banks, saying that the associations, “invisible” profile and non-existent banking activity should have alerted it to such a suspicious transfer of money.

HSBC, along with other high street banks, lost a high court ruling in 2011, which forced it to pay compensation to millions of people in the UK, who were mis sold payment protection insurance and wwere forced to make ppi claims on website such as

HSBC announced in November that it’s total provision for mis sold PPI, had reached a staggering £1.3 billion.

Also last month, the US government. fined HSBC $1.92 billion for allowing Iranian companies to use it’s banking services and also allowing Mexican drug money to be laundered through it’s banking network.

Soros Warns Of Impending Stock Market Crash

When George Soros speaks, the financial world listens. During an interview with Bloomberg, Soros warned that economic problems similar to the ones seen in 2008, might be on the horizon again.

Global markets are facing a crisis and investors need to be very cautious, billionaire George Soros told an economic forum in Sri Lanka on Thursday. China is struggling to find a new growth model and its currency devaluation is transferring problems to Read The Whole Story At

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