The International Air Transport Association (IATA) has released a letter to national associations that states that travel agents will receive only 8% of the total refunds from Jet Airways.
The letter issued by IATA states,
“All the refund applications filed in BSPLink for Jet Airways (9W-589) tickets by travel agents worldwide as part of the post-suspension refund process have been evaluated by the airline’s representatives.
Unfortunately, the balance of the Security Deposit held by IATA (after settling 100% of all refunds up to the date of suspension) was not sufficient to cover all the remaining refunds that have been approved by Jet Airways in the post-suspension refund process.
Therefore, IATA will have to pro-rate the total refund against the net remaining balance withheld, which means that your agency will receive approximately 8% of the total refunds approved by the airline in this process
The refunds that have been approved for processing with the prorated amount are final and will be automatically included in your billing.
The refunds that have been rejected by Jet Airways (9W-589) will not be processed.”