NPR logo

Southwest Airlines Rectifies Ticket Billing Error

  • Download
  • <iframe src="https://www.npr.org/player/embed/158185302/158185419" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
  • Transcript
Southwest Airlines Rectifies Ticket Billing Error

Business

Southwest Airlines Rectifies Ticket Billing Error

Southwest Airlines Rectifies Ticket Billing Error

  • Download
  • <iframe src="https://www.npr.org/player/embed/158185302/158185419" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
  • Transcript

Refunds are arriving into the bank accounts of Southwest Airlines customers who were billed multiple times for promotional fares booked on Friday. In other business news, the Financial Times reports Wall Street banks are moving to prevent "redenomination risk."

(SOUNDBITE OF MUSIC)

STEVE INSKEEP, HOST:

NPR's business news starts with an airline refund.

Refunds are starting to arrive in the bank accounts of Southwest Airlines' customers who were billed multiple times for promotional fares booked on Friday. Some customers paid for their discounted air travel as many as 20 times, according to the Associated Press. The company blamed the problem on a computer glitch.

Southwest has promised to pick up any fees caused by the repeated charges after customers complained that their accounts were overdrawn, checks were bouncing.

And as the economies of countries like Spain and Greece continue to falter, American banks are taking steps to make sure their books will balance.

The Financial Times reports that Wall Street banks are moving to prevent redenomination risk. That's the threat that a country like Spain could some day leave the euro and have to pay back its debt in a less valuable currency.

One way that banks are pushing to protect themselves is by ensuring that contracts fall under the jurisdiction of American or British courts, which are seen as more likely to demand repayment in euros.

Copyright © 2012 NPR. All rights reserved. Visit our website terms of use and permissions pages at www.npr.org for further information.

NPR transcripts are created on a rush deadline by Verb8tm, Inc., an NPR contractor, and produced using a proprietary transcription process developed with NPR. This text may not be in its final form and may be updated or revised in the future. Accuracy and availability may vary. The authoritative record of NPR’s programming is the audio record.

Comments

 

Please keep your community civil. All comments must follow the NPR.org Community rules and terms of use, and will be moderated prior to posting. NPR reserves the right to use the comments we receive, in whole or in part, and to use the commenter's name and location, in any medium. See also the Terms of Use, Privacy Policy and Community FAQ.