Clear-ly disappointing

If you’re a frequent flyer like myself, you may have invested in Clear, a high-tech card that gave you access to express security lines at airports across the country. Initially introduced in 2005, Clear pre-screened its customers via a background check which in turn granted Clear card-holders access to a reserved security lane and typically a shorter wait …all for a reasonable fee of around $200 per year.  That fee turned out to be much more substantial, however, when Clear suddenly went under just last week.  Clear announced that they would cease operations effective immediately because Clear’s parent company, Verified Identity Pass, Inc. “has been unable to negotiate an agreement with its senior creditor to continue operations”.  This seems strange since Clear appeared to be a lucrative product generating revenue of about $2.5 million at Orlando International alone since the program launched in 2005 and exceeding the initial budget forecast for 2009. The unfortunate part of it is that Clear’s earnings to date will not go towards reimbursing its 250,000 clients, leaving them at the back of the line and $200 poorer.  Personally, I think this was a great idea and am disappointed that it is no longer available.  To me, anything that makes travel less of a hassle (even if it is for a small fee) is a worthwhile investment – just make sure the company’s stable first.  

Comments

[Steve]

Ouch.