On 1 March 1971, the first Billing and Settlement Plan (BSP) came into operation in Japan. More than a technical advance in money handling, it was an imaginative leap for the entire industry. From this point onwards, airlines and accredited travel agencies had a standard way of settling accounts.
Analysis IATA
Dimitris Gerogiannis, Aegean Airines
Greg Foran, Air New Zealand
Izham Ismail, Malaysia Airlines
The coronavirus pandemic had a catastrophic effect on the industry, but ensuring safety was not compromised on its restart was essential, according to IATA.
Safety
The enhancement to air traffic management in the Akara Corridor—airspace to the south of Korea connecting China and Japan—is welcome news for airlines.
IATA’s financial settlement systems are essential to the industry’s cash flow in normal times, mission critical in these troubled times
IATA
The passenger journey must accommodate new biosafety measures without losing sight of its seamless goal
Passenger experienceAmsterdam, 20 January 2021: Amsterdam-based ground transportation company, Get-e, is announcing the airline industry’s first intelligent disruption management solution revolutionising the way airlines resolve the complexities involved when an unexpected diversion or delay displaces passengers.
Approval from the UK financial regulator is a key milestone in Skytra’s mission to develop the next generation of risk management tools for the air travel industrySkytra Price Indices enable airlines’ revenue risk to be hedged for the first time, potentially helping them to achieve higher Ebit predictability, better credit ratings and cheaper access to capital.Independent reference price for air travel published on a daily basis opens up new applications such as new ways of negotiating and contracting for air travel
Impact of covid-19 airline industry economic performance
Economics
