How companies can make the most out of unused tickets
An unused travel ticket is a non-refundable ticket that cannot be used, due to a change in plans. With meetings falling through, readjusting priorities and staff turnover, business travel often results in a portion of unused tickets, which according to our data, can represent 5-7% of a company’s travel spend.
The first step in unused ticket management is examining ticket balances and expiry dates to check for any loopholes. Consider establishing a travel policy where business travelers must notify the person responsible for managing unused flight tickets about the expiration date—at least two months in advance.
When booking, opt for tickets that allow changes or refunds, reducing the risk of ending up with non-refundable tickets. This is particularly important during uncertain times when travel plans may change unexpectedly. Additionally, some airlines offer vouchers that can be used for future travel, providing an alternative to expiration dates and allowing for greater trip flexibility.
Automation plays a crucial role leveraging unused ticket value. Many corporate travel management companies (TMCs) offer technology solutions that track unused tickets and notify travelers and travel managers of upcoming expiration dates.
Another important aspect of managing unused tickets is understanding specific airline policies regarding name changes, new ticket issuance, and notifications. Familiarize yourself with the specific guidelines set by airlines, as they may have different procedures for handling unused tickets.
Using credit cards that offer travel-related benefits can bring significant benefits to your company. Some credit cards provide coverage for unused tickets, allowing travelers to recover the value of non-refundable tickets under certain circumstances. If the opportunity’s there, take advantage of it!
Enlisting the help of a specialist travel management company (TMC) can give you the necessary support to avoid piling up unused tickets, and make the most of existing ones.
By incorporating flexible cancellation policies, utilizing automation, and understanding airline procedures, individuals and businesses can minimize the financial impact of unused tickets. Effective management of unused tickets requires a proactive approach, but it usually demands significant time and energy to resolve.
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