COVID-19 Corona Virus South African Resource Portal 

We have guarantees in place with IATA to protect the airlines. How will IATA protect us if the airlines go out of business?

We were advised that when IATA finds that an airline may be in financial difficulty, they would request for that airline to put up additional guarantees to protect the money within the BSP.

I have suggested to IATA that they need to take a long hard look at the policy around business-
As-usual when we are not operating in business-as-usual times. So, I have suggested to IATA that they should protect the money of the customers through the agents, and not just protect the money of the airlines. Ultimately, if BSP money is settled to the airlines and those airlines find themselves into financial difficulty the money is gone. So, they have to work harder at protecting us as the agents and our customers.

That is the kind of strategic forward-thinking I think we need to continue to put to forward to IATA to ensure that they are taking every step possible to also protect the customer’s money.

Last Updated on