Flight Compensation Giant EUclaim Files for Bankruptcy, Leaving Passenger Claims in Limbo
Prominent flight compensation company EUclaim has officially filed for bankruptcy in the Netherlands. Founded in 2007, the firm assisted hundreds of thousands of passengers in securing money for delayed or canceled flights under European regulations. The company's financial collapse is primarily attributed to the severe downturn in air travel during the COVID-19 pandemic. This led to a drastic reduction in new claims, while the company also faced cash flow issues from airlines that were slow to pay out existing compensation. The bankruptcy leaves many customers with pending claims in an uncertain position, as their cases are now in the hands of a trustee.
Official Source: https://www.thestreet.com/travel/euclaim-flight-compenstion-company-files-for-bankruptcy
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