Tourism Breaking News
The International Air Transport Association (IATA) announced the upcoming change in the Billing and Settlement Plan (BSP) Remittance Frequency for IATA accredited agencies from fortnightly to weekly effective January 1, 2024. This change will impact the following BSP Gulf countries: Oman, UAE and Bahrain. The changes, including remittance and settlement dates, will be reflected in the calendar application on the IATA Customer Portal before January 2024.
“IATA is committed to supporting the travel agency community during this transition. The change has been communicated to all agencies and the 2024 remittance calendar will be made available by the end of the year to enable them to prepare accordingly,” said Mr. Khaled Al-Eisawi, Area Manager Gulf and Near East at IATA.
“The change means that IATA will be billing travel agencies for their airline sales on weekly basis and the travel agencies will be settling their dues to IATA within a week of receiving their invoices. As the association representing travel and tour agencies in Dubai, we encourage our member agents and corporate customers to take the necessary measures and adjust their billing and payment schedules to effectively manage the impact of this change,” said Mr. Asim Arshad, President DTTAG.
IATA remains committed to the facilitation of financial settlement between IATA accredited agents and member airlines under the Passenger Agency Program umbrella.
