New Delhi: Air travellers buying tickets from travel agents will no longer get long credit periods — something that used to be the agents' USP over travel portals and airline websites where payments have to be made instantly.
The International Air Transport Association (IATA) has decided to reduce the payment cycle of agents to airlines from the current fortnightly to a weekly basis from July 1. This means, agents will have to sell tickets for cash or ask for payment within a day or two.
While the move will help the financially-strapped airline industry, travel agents are clearly unhappy. "Agents will have to stop giving credit and need to collect cash for ticket sales in a maximum of two to three days. Small players who survived on credit facility will now go out of business," said Delhi-based Ambey Travels head Anil Kalsi.
20/05/13 Saurabh Sinha/Times of India
