Corporate Travel Management (CTM) is delighted to be the first travel management company (TMC) to receive an accreditation for transparent airfare pricing.
We received the new FairFare certification from independent airfare audit specialist Airocheck, demonstrating we do not apply arbitrary markups to airfares.
The certification is awarded based on a rigorous audit process, which is conducted using data directly from the International Air Transport Association (IATA).
Travel publication The Beat published an article on December 1, detailing the accreditation process.
“Airocheck’s data analysis software and audit process examine International Air Transport Association Billing and Settlement Plan data alongside TMC booking data and invoice information,” the article stated. “By comparing ticketed to billed data, they’re hunting for ‘hidden’ fare markups, which Airocheck co-founder Tony O’Connor characterized as an underexposed practice in corporate travel.
“If Airocheck’s audit concludes that at least 92 percent of an agency’s bookings are not marked up, its FairFare certification—along with a seal of approval for the TMC to display — demonstrates the agency has been audited by an independent third party and does not ‘systematically’ apply markups.
“Airocheck also requests a significant sample size of client invoices and ‘all raw booking data for the last four months in Excel’ from the TMC, according to a presentation for TMCs. These include ticket numbers, booking dates, travel dates, origins and destinations, booking locations, taxes, fare breakdowns and so on.”
By comparing ticketed to billed data, they’re hunting for ‘hidden’ fare markups, which Airocheck co-founder Tony O’Connor characterized as an underexposed practice in corporate travel.
Airocheck’s FairFare accreditation is valid for 12 months.
CTM Chief Executive Officer Australia & New Zealand Laura Ruffles said the accreditation highlights CTM’s commitment to transparent and fair airfare pricing.
“Our philosophy remains to put our customers at the forefront of our business by ensuring good service, useful technology and a clear return on investment,” she said. “The accreditation highlights our relentless commitment to delivering value and support for all our customers.
“At CTM it is our job to provide our customers with the best value fares and we are thrilled to receive this accreditation as acknowledgement to all of our teams that work hard to deliver the best results for our customers every day.”