1. IATA Rule Changes
IATA, the airlines association announced an overhaul of their rule book to take effect in 2013 as they look to reduce the size of losses from agency failures. It doesn’t come as any great surprise to see that the new measures fall into 2 categories:
Increasing the level, detail and oversight of reporting.
Increasing the number of instances where bonding is required.
If you're an existing IATA agent, you should familiarise yourself with the new IATA rules and understand the impact, ideally before completing your year end accounts as there may be simple mitigating actions you could take.
TTC are offering IATA Healthchecks to assess the impact of the rule changes. You can find further information about the rule changes and the Healthcheck on our website.