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The International Air Transport Association (IATA) announced that the Passenger Agency Conference (PAConf), composed of IATA’s member airlines, adopted Resolutions for the full implementation of the New Generation of IATA Settlement Systems (NewGen ISS) initiative. NewGen ISS represents the most extensive and ambitious modernization of the IATA Billing and Settlement Plan (BSP) since it was created in 1971 to facilitate the global distribution and settlement of funds between travel agents and airlines. Last year, the BSP processed $219 billion in airline funds with 100% on-time settlement. “Implementation of NewGen ISS is a critical step forward by the global air transport industry in ensuring that the BSP continues to serve the industry’s financial settlement requirements for years to come. It is the culmination of a multi-year engagement with participants in the air travel value chain, including airlines, travel agents, and IT and system providers. It will bring greater opti

Aleks popovichPassenger agency conference paconfInternational air transport associationDistribution servicesRemittance holding capacityPassenger agency conferenceNew generationSettlement planSenior vice presidentGlobal default insuranceHolding capacityஅலெக்ஸ் பொப்பொவிச்சர்வதேச அேக போக்குவரத்து சங்கம்விநியோகம் சேவைகள்பணம் அனுப்புதல் வைத்திருத்தல் திறன்புதியது ஜெநரேஶந்