WASHINGTON - Passengers who get bumped on overbooked flights will soon be eligible for twice as much compensation from U.S. airlines.
Travelers forced onto other flights that take them to their domestic destinations more than two hours after their original arrival times will be paid the full price of their fares -- as much as $800 -- under a Department of Transportation rule that goes into effect next month.
If bumped passengers arrive less than two hours after original arrival times, the new compensation limit for domestic flights is $400, according to the rule. The arrival time limit is four hours for international flights.
The agency also announced initiatives Wednesday intended to decrease air travel delays that stem from congested New York-area airports, such as rerouting planes through Canadian air space to avoid summer storms.
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More bad financial news: there were no venture capital-backed IPOs in the second quarter, the worst quarterly performance since 1978, according to a recent report by PricewaterhouseCoopers. “There is little indication that the market will recover anytime before the second quarter in 2009,” said Tracy Lefteroff, global managing partner of the Venture Capital and Private Equity [...]
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