Friday, March 9, 2012

BREAKING! IATA suspends Kingfisher in BSP

Neelam Mathews
March 9, 2012

IATA has just sent Aerospace Diary this statement:

IATA has suspended Kingfisher Airlines’ participation in the Billing and Settlement Plan (BSP) and Cargo Accounts Settlement System (CASS).  The suspension was because the airline did not provide IATA with a cash deposit, required to continue its participation in the BSP and CASS.  The required cash deposit was intended to ensure the airline is able to meet its financial obligations in the BSP and CASS.   

The BSP and CASS programs facilitate and simplify the selling, reporting and remitting procedures between airlines and travel and cargo agents.  Suspension from the BSP and CASS means that the airline would not be able to use the BSP and CASS to settle their sales with travel and cargo agents. The airline is still free to sell and settle directly with travel agents and freight forwarders.

Kingfisher’s participation in the BSP and CASS will be reinstated after the airline fulfills the cash deposit requirement.

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