IATA launches BSP in Myanmar

IATA launches BSP in Myanmar

The International Air Transport Association (IATA) has launched its Billing and Settlement Program (BSP) in Myanmar.

IATA’s BSP aims to simplify ticket sales and payment reporting for travel agencies and airline sales settlements.

Before BSP was implemented, agents had to interact directly with their respective airlines to report and remit their ticket sales, a practice that IATA called “inefficient and time-consuming”.

BSP will improve the efficiency of interaction between airlines and travel agencies and support the development of tourism in Myanmar

“Aviation is a growing industry in Myanmar,” said Conrad Clifford, IATA’s vice president for Asia Pacific. “As the country continues to develop and more and more international airlines are operating services in Myanmar, it is time to introduce BSP.

“It will not only improve the efficiency of interaction between airlines and travel agencies, but also modernize and support the development of Myanmar’s tourism industry.”

Founded in 1971, the IATA BSP operates in 180 markets around the world and serves approximately 400 participating airlines.

According to IATA, BSP provides an on-time settlement rate of 99.997%. In 2018, IATA’s BSP processed $248.8 billion.

Five airlines and 12 travel agencies have already signed up during the initial implementation phase, with more airlines expected to join in the coming months.

Air travel in Myanmar is expected to grow at an average annual rate of 8% over the next 20 years, according to IATA analysis. The global average expected growth in air travel is 3.9%.

By 2038, IATA expects Myanmar to be an air travel market with 37 million passengers, nearly five times the current figure.

“Aviation is a catalyst for social and economic development. In addition to introducing BSP, we also opened the first IATA office in Myanmar in April,” added Clifford.

“Through this office, we hope to strengthen our partnerships with various aviation stakeholders to support Myanmar’s aviation development by implementing global standards and industry best practices.”

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