According to an interview by Reuters and EU Transport Commissioner Adina Valean, vouchers are not in accordance with EU law.
Some airlines seem to struggle a lot and would prefer to keep the money within the company instead of refunding thousands and thousands of passengers the money for their cancelled flights. So nearly all airlines now offer vouchers and literally disabled the option to refund the money for the cancelled flights.
German authorities already discussed the option that airlines might be allowed to provide vouchers instead of refunds.
EU Transport Commissioner Adina Valean however stated:
“In order to change any provision of this law, you would need wide support for an agreement from the other institutions,” she said in a telephone interview.
“We are not going to act on legislation at this stage.”
It will be interesting to see how this situation develops as more and more airlines seek help of their governments.