Iata has terminated AirFastTickets’ licence, meaning the OTA can no longer sell flight tickets in the UK and Germany, TTG has learned.

The aviation authority initially suspended the OTA from trading from these offices as well as in Greece, in June, after it emerged that AirFastTickets owed a total of €45 million, with the amount at risk in the UK calculated at around €13.9 million.

In a letter sent to members on August 1 and seen by TTG, Iata said: “Following the suspension of the AirFast Ticket Group locations in the UK, Germany, and Greece, Iata entered into negotiations with the group aiming to conclude a repayment agreement.

“Unfortunately, despite the extensive discussions and several repayment proposals, no agreement was reached between Iata (in consultation with the Passenger Steering Committee) and AirFast Tickets management.

“Iata’s regional office in Madrid has proceeded with the termination in accordance with the applicable Resolutions of the Passenger Agency Conference, which includes encashment of the financial guarantees. The proration of funds, following standard procedures, will commence immediately after the guarantees have been paid to Iata.”

The aviation body also told members to “follow up with members of your Local Customer Advisory Group and with personnel from your local Iata office local office with regards to local legal proceedings under Post Termination Recovery Services.”

In a statement issued to TTG, Iata confirmed: “Following the default of the Air Fast Tickets group of agents in the UK, Germany and Greece, Iata can confirm that in subsequent discussions no agreement for a repayment schedule was reached with AirFastTickets.

“Consequently, in accordance with applicable resolutions, Iata has terminated AirFastTickets’ passenger sales agency agreements in the UK and Germany, which precludes their participation in the BSPs (Billing and Settlement Plans) of these countries.”

Iata added that the company “remains in default in Greece.”

The CAA confirmed to TTG that it remained in talks with AirFastTickets.

In a statement however, AirFastTickets said it remained hopeful that it could still reach an agreement with Iata. “Whilst the proposal from AirFastTickets has currently not been accepted, we are continuing to move forward and are confident that a mutually beneficial agreement will be reached shortly,” the OTA said. “Our position remains the same that we are willing to settle this with either Iata or the airlines, and believe we will do so in due course.”