Online air ticket retailer AirFastTickets insists it remains confident an agreement can still be made with airlines over €45 million Iata says it owes in payments.
Iata this week confirmed that no agreement for a repayment schedule was reached with AirFastTickets following discussions over a default in payments.
It added: “Consequently, in accordance with applicable resolutions, Iata has terminated AirFastTickets’ passenger sales agency agreements in the UK and Germany, which precludes their participation in the Billing and Settlement Plans of these countries. AirFastTickets remains in default in Greece.”
The airline association placed the US-based firm, which originated in Greece, into default in the UK on June 18 due to a monthly deadline being missed to pay €14 million it owed for sales in May.
It also suspended the firm’s licence to trade as an Iata-accredited agent in Germany and Greece. Cumulatively the amount of money Iata said was ‘at risk’ in those three markets was €45 million.
But Ron Yeatman, AirFastTickets vice-president for Europe, insisted an agreement could still be reached.
He said: “Whilst the proposal from AirFastTickets has currently not been accepted, we are continuing to move forward and are confident that a mutually beneficial agreement will be reached shortly.
“Our position remains the same – that we are willing to settle this with either Iata or the airlines, and believe we will do so in due course.”