Weekly settlement deferred till June 2013
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The weekly settlement system has been deferred till 30 June 2013.
The system was earlier suppose to be implemented from 1 November 2012. The announcement which comes as a relief for the travel trade community was made by the Travel Agents Association of India (TAAI).
There was a unanimous vote by APJC, India and a revised remittance cycle was agreed upon. Earlier in 2011, the airlines, through a vote during the Passenger & Agency (PA) Conference in Singapore, mandated the implementation of weekly remittance in India, effective 1 July , 2012. However, IATA had deferred its implementation to 1 November 2012 after stiff opposition from several travel trade associations in India.
Commenting on the development Iqbal Mulla, President of TAAI said, “It is due to our constant struggle and efforts that the weekly remittance is being postponed to 30 June 2013. We have always believed in supporting the agent fraternity and strived towards benefiting the community through fair practices. This deferment till next year is not only a victory for TAAI but for the entire agent community. We are very optimistic that airlines and the agent community will work together for mutual benefit.”
