IATA has deferred the implementation of its weekly remittance system in India until November 1, 2012.
The association had earlier scheduled the change in the remittance frequency in the Indian billing and settlement plan for June 1.
Biji Eapen, IATA Agents Association of India (IAAI) president, said: “After careful discussions and deliberations, IATA Geneva concluded that the weekly remittance cannot be administered at this time without exposing IATA and its members to unacceptable risks.”
Guldeep Singh Sahni, managing director of Weldon Tours & Travels New Delhi, welcomed the deferment as it would bring “temporary relief” for small- and medium-sized travel agencies. “The delay in the implementation provides an opportunity for us to sort out this mess,” he said.
Reporting by Divya Kaul
