ASATA has received the below update from IATA regarding recently adopted changes by the Passenger Agency Conference:
Considering the ongoing changes within our industry, the Passenger Agency Conference approved several changes to the Agency Risk Management framework & Remittance holding Capacity (RHC) during Q3 Mail vote this year.
These changes were reviewed by the global Travel Agent Community through the Passenger Agency Programme Global Joint Council (PAPGJC) prior to submission for Passenger Agency Conference (PAC).
Summary of Changes
The approved changes will be effective starting 1 November 2020 and are meant to enable a personalized approach to Risk management for Travel Agents, through changes covering below areas:
1. A new assessment framework for Multi-Country IATA Accredited Travel Agents taking into consideration the multi-facets of an international Agent’s business scope.
2. Additional assessment requirements for Travel Agents with an Amount at Risk (amounts not covered by Financial Security) of 5 Million USD or more.
3. A new Remittance Holding Capacity (RHC) calculation framework for Travel Agents in NewGen ISS markets (Resolution 812)
Your Next Action
We encourage you to access the below links for full details on the upcoming changes:
• Adopted Mail Vote A343 – Agency Risk Management Framework & RHC Review
• Adopted Mail Vote A344 – Changes to Multi-Country Assessment Framework
You can find all updates related to PAC adopted items, Local Financial Criteria’s, Travel Agent Handbook and BSP manual through our Agent Home page.
To view the full update, please click on the link below: