New Delhi: Business-class fares on key civil aviation routes have risen considerably after travel agents approved by the International Air Transport Association (IATA) stopped booking of tickets in cash-strapped Kingfisher Airlines.
The Travel Agents Federation of India (Tafi) saw a correlation between the two, and attributed the development to a decrease in the supply of business-class seats. “As of now, the system has enough economy-class seats,” said Tafi president Ajay Prakash. “But things will get worse when the demand increases going ahead during the peak season.”
India has around 3,000 IATA-approved travel agents, and all the country’s leading travel portals are a member.
It is for the second time in four weeks that IATA suspended Kingfisher from its collection house, besides the billing and settlement plan, called BSP. The BSP is a system designed to facilitate and simplify the selling, reporting and remitting procedures of IATA-accredited passenger sales agents, as well as improve financial control and cash flow for BSP airlines. At the close of 2011, there were 82 BSPs, covering 173 countries and territories serving about 400 airlines, while the gross sales processed amounted to $249 billion.
10/03/12 Mihir Mishra/Business Standard
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