IATA ‘risk’ warning
TRAVEL agents in New Zealand have been warned to ensure they update IATA about so-called “risk events” in the lead-up to the implementation of NewGenISS in the coming months ( TD 26 Sep).
Speaking at a summit convened by the Travel Agents Association of NZ today, IATA Area Manager South West Pacific, Matteo Zanarini, said agents’ risk ratings could be based on various events.
“Some of these are no brainers, like defaults, dishonours and late payments...but there are less obvious things like change of ownership, legal status or shareholders - because there are credit terms transferred and a different owner we didn’t know about,” Zanarini said.
NewGenISS involves new assessments of agent risk profiles under the “GoStandard” model, which has led to disruption in some markets where the new system has already rolled out.