IATA defers settlement of travel dues

Mumbai: On behest of travel agents and passengers, the International Air Travel Association (IATA) has deferred the implementation of the "weekly settlement" of travel dues to November. This move comes in favour of frequent fliers, particularly corporate fliers, who enjoy a two week credit period with travel agents for payment of travel dues.
Earlier, airlines had requested IATA to reduce the credit period to one week for the settlement of dues. The new policy was supposed to be implemented from June 1 onwards. Travel agents associations, however, protested against the move. "Weekly settlement of dues would be very inconvenient for the corporate clients, who have to to get many departmental sanctions before the final payment is made. A fortnight gave them ample time," said Rajesh Rateria, managing director, Cirrus travels."We hope to convince IATA to withdraw it completely," he added.
14/06/12 Chinmayi Shalya/Times of India

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Categories: Indian Aviation- In General Jun 2012