DUSHANBE, April 6, 2010, Asia-Plus — Tajik private air carrier, Somon Air, has joined the Billing and Settlement Plan (BSP) accounting service system of Kazakhstan and Kyrgyzstan, according to the Somon Air press service.
BSP is a system designed to facilitate and simplify the selling, reporting and remitting procedures of the International Air Transport Association (IATA) Accredited Passenger Sales Agents, as well as improve financial control and cash flow for BSP Airlines. A truly worldwide system: at the close of 2008, there were 88 BSPs, covering 160 countries and territories serving 400 airlines, while gross sales processed amounted to USD 239 billion.
The Somon Air press service notes benefits of BSP include simplification (agents issue one sales report and remit one amount to a central point; airlines receive one settlement covering all agents; Neutral Standard Traffic Documents (STDs) replace dedicated airline ticket stocks; and agents’ sales are reported electronically), savings (less resources required for billing and collection; reduced printing for both airlines and agents with the use of neutral STDs and standard administrative forms; electronic distribution of billing reports, and generation of debit/credit memos, and enhanced control (increased financial control thanks to centralization and grouping; storage, distribution, issuance and reporting of STDs under BSP control ; consolidated document flow, permitting accelerated quality controls; and overall process monitoring by a neutral body).
All IATA accredited agents in the BSP country of operation are automatically eligible for participation in a BSP. When a new BSP commences operations in a country, all agents are notified by IATA and invited to participate.
