Glossary
IATA
Definition: IATA (International Air Transport Association) is the global trade association for airlines, representing approximately 300 airlines comprising 83% of total air traffic. IATA sets industry standards for ticketing, safety, and operations.
Founded in 1945, IATA serves as the industry body for the world’s airlines. It establishes standards for everything from ticket formats and airport codes to cargo handling and safety procedures. The familiar three-letter airport codes (JFK, LHR, DXB) and two-letter airline codes (EK, QR, SQ) are IATA designations.
IATA also operates the Billing and Settlement Plan (BSP), which processes ticket transactions between airlines and travel agents. Only IATA-accredited (or IATAN-accredited in the US) agents can participate in the BSP and issue airline tickets directly, which is what gives consolidators like BookMyBusinessClass access to wholesale fare inventory.
For consumers, IATA accreditation of a travel agency serves as a trust mark. It means the agency has met strict financial and professional standards, provides consumer protections through IATA’s resolution processes, and has legitimate access to airline ticket inventory at wholesale rates.