The customers have now been changed to business class, with a full refund on offer.
The Aviation Customer Rights Charter will also set out when airlines must refund passengers in the form originally paid and in a prompt timeframe.
Travellers taking off between July 29, 2024, and March 26, 2025, can nab seats for as low as $109.
The plan is subject to regulatory approval and would launch in about a year.
The carrier was named the World’s Safest Airline for 2023, surpassing Australian airline Qantas.
The airline has recently been named the safest in the world ahead of Qantas and Virgin.