IATA announced a minor change to the financial criteria applying to UK-accredited agents. From 1 January 2024, agents will no longer be able to settle ticket payments every ten days. By default, agents on a ten-day remittance frequency will be moved to settlement four times per month. However, agents may be able to move to a remittance frequency of every two weeks by either satisfying the financial tests or providing security.
All other financial tests remain the same:
- Agents’ accounts will be evaluated based on four financial ratios.
- Accounts must pass all four tests to pass the financial assessment. If any of the tests are failed, financial security is likely to be required.
If you have any questions about how the new IATA financial criteria could affect your business, contact our team for assistance.
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