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22 June 2023


SIERRA LEONE JOINS THE IATA BILLING AND SETTLEMENT PLAN

IATA has said that the Billing and Settlement Plan (BSP) has been launched in
Sierra Leone, effective August 1, 2023.

> Kamil Alawadhi, regional vice president Africa and Middle East. Image:
> Aerocomm

The BSP is a global system that facilitates the financial transactions between
airlines and travel agencies. It is designed to simplify and secure the selling,
reporting, and remitting procedures of IATA-accredited travel agents.

The launch of the BSP in Sierra Leone is a significant milestone for the
country's aviation industry. It will help to improve the efficiency and
transparency of air travel transactions, and it will provide a more secure and
reliable payment system for airlines and travel agents. It will also contribute
towards the growth of aviation and the economy.

“Accelerating the implementation of secure, effective, and cost-efficient
financial services is a key pillar of IATA’s Focus Africa initiative. The launch
of the BSP in Sierra Leone is a testament to our commitment to supporting the
growth and modernization of aviation across Africa,” said Kamil Alawadhi,
regional vice president Africa and Middle East.

The BSP is a global system with operations in some 180 countries and
territories, over 40 of which are in Africa and Middle East. The system
currently serves more than 57,000 travel agencies and 344 participating airlines
with an on-time settlement rate of 99.9%. In 2022, IATA's BSP processed $157.58
billion globally.

“The launch of the BSP in Sierra Leone is a win-win for the country’s aviation
industry,” said Alawadhi. “It will benefit airlines, travel agents, and
passengers alike,” said Alawadi.

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