By Gediminas Ziemelis
Over €5bn in compensations are not disclosed on major European airlines’ financial reports over the last three years. With up to 90% of passengers being aware of their rights on claim compensations for disrupted flights and compensation obligations remaining valid for up to 10 years (depending on the country), it is of utmost importance that auditors initiate improved financial reporting standards forairlines. Otherwise, shareholders and investors might witness more collapses of airlines in 2019.
