International Air Transport Association
The International Air Transport Association (IATA) is an international trade body which represents the airline industry.
Travel agents can apply for IATA accreditation which authorises them to sell and issue international airline tickets. For new applicants, a minimum bond of £50,000 will be required.
If you are an IATA accredited travel agent but do not achieve the following, then you may be required to provide a bond.
If your accounts show that:
- You have not made a profit before tax, or your current assets do not exceed current liabilities at the end of an accounting period.
- Your company has traded for less than 3 years in the travel industry.
- You or your parent company undergoes significant change of ownership.
Please be aware that the level of IATA bond is based on an average of the projected annual turnover of airline seats less credit card sales and bonding levels are calculated to the nearest multiple of £5,000 and a subject to a minimum of £50,000.
For more information, please visit IATA’s website.