Facilitating Trade Partners | UIC & Bukhari Sialkot Sign Important Agreement
KARACHI: To facilitate the travel trade partners in the present and unparallel difficult time, United Insurance Company (UIC) and Bukhari Travel Sialkot (GSA flynas-Pakistan) singed an important agreement last week here in Karachi.
The agreement was inked by Sardar Rafiq Khan, Group Chairman Bukhari’s and by Shakil Ahmed, Deputy Managing Director, United Insurance Company (UIC). The agreement signing ceremony was witnessed by Country Manager flynas-Pakistan, Mr. Manzoor Thanvi, TAAP delegates, senior trade partners along with Bukhari Travel GSA management.
flynas, a domestic and international budget airline based in Saudi Arabia adopted two business models in Pakistan i.e. selling through GDs and Debit I.Ds since its very inception in Pakistani Market.
However due to certain defaults flynas had sustained huge losses which couldn’t be recovered due to prorated settlement by BSP.
So flynas management has decided to withdraw the capping on GDS but continued on debit I.Ds for which all agents are required to top up their I.Ds.
Keeping in view the difficulties being faced for arranging cash by the travel trade partners especially during covid-19, the flynas GSA management discussed the matter with another business partner i.e. UIC to help the travel trade partners once again and resolve the issue. while providing UIC guarantee to the supporting agents so that flynas can release the ticket stock either through GDS or Debit I.Ds in accordance To UIC guaranteed amount.
The agreement signed between UIC and Bukhari Travel Sialkot, GSA flynas-Pakistan will facilitate the travel trade partners to solve their cash problem to great extent.