IATA ‘risk’ warn­ing

Travel Daily - - News -

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.

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