ASIA Travel Tips.com

 

IATA, Aeroflot, Russian VTB Bank implement BSP in Russia

Search ASIA Travel Tips .com Latest Travel News Send to Friend Wednesday, 28 May 2008

IATA has fully implemented its Billing and Settlement Plan (BSP) in Russia with strategic partners Russian VTB Bank and Aeroflot.

IATA’s Billing and Settlement Plan (BSP) provides a single standard interface for invoicing and payment between 60,000 IATA Accredited Passenger Sales Agents and airlines in 160 countries. In 2007 IATA’s BSP processed 458 million transactions and US$ 220 billion worldwide.

“The implementation of the BSP in Russia is an important step forward,” said Giovanni Bisignani, Director General and CEO of IATA. “IATA’s BSP links Russian aviation to a massive global network, brings tremendous efficiencies to airlines and travel agents and improves service to passengers.”

Some 37 airlines and over 400 travel agency locations across Russia now benefit from fully automated ticketing and reporting procedures based on international standards and best practices, including state-of-the-art internet portal BSPlink and electronic ticketing (ET). The industry set a deadline of 31 May 2008 for 100% ET to improve passenger convenience and save the industry US $3 billion annually. BSP Russia is well advanced at 94% ET.

Russia’s largest financial institution VTB Bank is the official clearing bank for BSP Russia and will serve as the data processing centre via Multicarta ISS.

“Participation of the largest Russian banking group VTB in the implementation of BSP in Russia will ensure increased effectiveness and efficiency of the settlement process and, therefore will facilitate further integration of Russian airlines into the global air transport industry,“ said Andrei Kostin, VTB Bank Chairman and CEO.

Aeroflot played a critical role during the BSP implementation, working closely with the Russian aviation authorities and other airlines.

“Aeroflot has long since recognised the benefits of IATA’s BSP. We are currently participating in the programme in more than 50 countries,” said Valery Okulov, CEO, Aeroflot. “Clearly Russia is our most important market and the BSP Russia is an excellent tool to expand our distribution and support our full transition to electronic ticketing. We are already 100% ET in BSP Russia.”

IATA has 6 member airlines in Russia including Aeroflot, Rossiya, S7-Siberia, Transaero, Vladivostok Air and Volga-Dnepr. Aeroflot is the oldest IATA member among Russian carriers, having been a member since 1989. Valery Okulov is a member of IATA’s Board of Governors.

See other recent news regarding: Airlines, Aviation, Flights, HotelsPromotions, New Hotels, IATA

Subscribe to our Latest Travel News Daily Email Free of Charge by simply entering your email address to the right. You can also receive the daily news service by WhatsApp, stay updated with our RSS Feed Free Travel News RSS Feed and even add the travel news to your website. Have questions? Please read our travel news FAQ.
     

Advertising
Advertising

 
Copyright © 1997-2020 TravelNewsAsia.com