Last month I was booked in Premium Economy on Singapore Airlines, but when I arrived at the airport I was informed that the flight had been overbooked and I was downgraded to Economy.
The compensation offered was the fare difference between Premium Economy and Economy based on the ticket prices on the day of departure, rather than the prices at the time I originally booked. I also asked whether I could take a later flight instead, but I was told those flights were also overbooked.
There were several other passengers on the same flight who were downgraded as well. What surprised me most was being told that passengers booking Business Class or Premium Economy should be aware that downgrades can happen.
I wanted to share this because I genuinely had no idea this was handled this way and I am curious whether others have experienced something similar.