{"id":416544,"date":"2011-05-03T17:21:35","date_gmt":"2011-05-03T17:21:35","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/05\/03\/ncaa-boss-lauds-introduction-of-bsp-in-aviation-sector\/"},"modified":"2011-05-03T17:21:35","modified_gmt":"2011-05-03T17:21:35","slug":"ncaa-boss-lauds-introduction-of-bsp-in-aviation-sector","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/05\/03\/ncaa-boss-lauds-introduction-of-bsp-in-aviation-sector\/","title":{"rendered":"NCAA boss lauds introduction of BSP in aviation sector"},"content":{"rendered":"
\n

The Director-General, Nigerian Civil Aviation Authority (NCAA), Dr Harold Demuren said on Monday that the Billing and Settlement Payment (BSP) system had created more job opportunities in the country\u2019s aviation sector.<\/p>\n

He said that the BSP which was introduced in 2008 had also restored confidence in local travel firms.
BSP is a system designed to simplify selling, reporting and remitting procedures of International Air Transport Association (IATA) accredited passenger sales agents as well as improve financial control and cash flow for BSP airlines.<\/p>\n

Before its introduction in Nigeria, major airlines required each travel management firm to produce bank guarantees and performance bonds for as much as N30 million, forcing many to close shop.<\/p>\n

\u201cBSP has restored confidence and mutual trust between members of the powerful airline cartel and local travel management firms. There has been tremendous progress since it was introduced. Our travel agencies were almost dead.<\/p>\n

The foreign airlines were killing them.\u00a0 We fought that battle and we won. Today, we have the strongest downstream in the aviation sector \u2014 the travel agency system,\u201d Demuren said.<\/p>\n

Demuren, who worked with IATA and the International Civil Aviation Organisation (ICAO) to introduce the system in Nigeria, said BSP was good for the country. \u201cGlobally 400 airlines are in the BSP system in 160 countries with sales in 2010 exceeding about 200 billion dollars,\u201d he said.<\/p>\n

He said more than 26 airlines operating in Nigeria were also members of the BSP. Demuren disclosed that the BSP had also brought integrity into travel management business by protecting airlines against loss of revenue.<\/p>\n

\u201cIt has helped to reshape the future and fortune of one of the very important segment often described as the engine of the downstream sector of the aviation industry.<\/p>\n

The BSP operations in Nigeria are a big boost to the government\u2019s desire to protect the downstream sector of the economy and encourage the growth of travel agencies,\u201d he said.<\/p>\n<\/div>\n

Comments are moderated. Please keep them clean and brief.<\/p>\n<\/p>\n

Go here to read the rest:
\nNCAA boss lauds introduction of BSP in aviation sector<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The Director-General, Nigerian Civil Aviation Authority (NCAA), Dr Harold Demuren said on Monday that the Billing and Settlement Payment (BSP) system had created more job opportunities in the country\u2019s aviation sector. 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