‘Buying time’ for weekly payments

The verdict on the weekly payments is out and IATA decided to defer it till Oct. 31, 2012. Trade associations have 5 months to either train their members or remove the weekly payment settlement concept from India.

To

ease the struggling Indian travel agents fraternity, International Air Transport Association (IATA) recently announced to defer the implementation of the weekly settlement system till October 31, 2012. The association had announced the execution of the weekly settlement system from June 1, 2012, but received strong protest from the travel trade associations like TAAI, TAFI and IAAI. With the latest verdict from IATA, the associations have bargained a duration of ‘five months’ to either educate their members on weekly settlement plan or