Travel agents can become IATA entities without bank guarantee
- A Monitor Report01 Nov, 2019 | 1376 Views|-+
Dhaka : Travel agents of the country will be able to become International Air Transport Association (IATA) approved entities without bank guarantee under a new rule which will be launched in Bangladesh on November 16.
IATA brought about the change with the worldwide implementation of NewGen ISS (New Generation IATA Settlement Systems).
Travel agents were informed of the new development at a briefing jointly organised by Association of Travel Agents of Bangladesh (ATAB) and IATA regional office at Police Convention Centre in the city on October 20.
The travel agencies which are IATA agents now had to pay a minimum of BDT 30 lakh as deposit. Airlines across the world are members of IATA and tracel agencies sell airline tickets through this organisation.
It was informed at the briefing that along with the prevailing system, the new system has introduced three categories. Those paying a deposit to become IATA agents and sell tickets had been classified as "GoStandard;" those becoming agents in pre-paid system without paying deposit as "GoLite;" and those agents who have their offices abroad can sell tickets under "GoGlobal" mode.
Those Umrah agencies who had become IATA members depositing BDT 30 lakh but not ticketing now can transfer themselves in "GoLite" category and take back their deposits.
Sources said NewGen ISS is a programme designed to modernise the current Billing Settlement Plan (BSP).
Following the first NewGen ISS launch in BSP Norway in March 2018, NewGen ISS is progressively being rolled out in waves across BSPs.
All BSPs are expected to be migrated to NewGen ISS by 2020, they said.