Weekly settlement system deferred till June 2013       Published on : Oct 20 2012
 
The weekly settlement system, which was to be implemented from November 1, 2012, has been deferred to June 30, 2013. The announcement, which will come as a relief for the travel trade community, was made by the Travel Agents Association of India (TAAI).
TAAI said that the fortnightly payment system will continue till June 30.
Earlier in 2011, the airlines, through a vote during the Passenger & Agency (PA) Conference in Singapore, mandated the implementation of weekly period remittance in India, effective July 1, 2012. However, IATA had deferred its implementation to November 1, 2012 after stiff opposition from from several travel trade associations in India.
TAAI said that they held several meetings with airlines to present to them the threat that the travel industry faced and the agentsí dilemma due to the weekly payment system.
There was a unanimous vote by APJC, India and a revised remittance cycle was agreed upon. This was sent to the PA Conference, which was held from October 14-16 in Abu Dhabi.
Sunil Kumar, Hon Secretary General of TAAI was present there along with the support of UFTAA board and participated in the TA Caucus meeting held on October 14. Others who supported the deferment include the APJC Chairman, Pankaj Srivastava from Air India, IATA India officials and the UFTAA board.
Commenting on the development Iqbal Mulla, President, TAAI said, "It is due to our constant struggle and efforts that the weekly remittance is being postponed to June 30, 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."
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