ALPART Gives $2.6 Million to Assist Students

first_img They sought to give two high school students five-year scholarships As part of its quest to support the development of children, Alumina Partners of Jamaica (Alpart), through its Community Council, has provided educational assistance to 625 students in South Manchester, and St. Elizabeth, valued at $2.6 million.Speaking at a back-to-school ceremony, held at the Alpart Sports Club, in Nain, St. Elizabeth, on August 15, Administrator of the Council, Camilla Blake, explained that the educational programme, now in its third year, has reached more students than in previous times.“The programme assists needy students at all levels of the educational spectrum -early childhood level, primary level, secondary level and tertiary level – and they are all drawn from the communities neighbouring Alpart,” he noted.While the initiative has catered to all categories of students, this year they sought to give two high school students five-year scholarships that would take them through their secondary education.“They had to have an average of 90 per cent and more. Applicants had to demonstrate financial need, and they had to have a good record of discipline and potential at their school; and took part in extra curricula activities, because we are looking for rounded individuals,” Miss Blake said.“We had 17 applicants who fit the criteria outlined. After an interview process and deliberations, the two successful students were selected, and a decision was made by management that hard work should be rewarded, so each of the other 15 applicants will receive a grant valued at $15,000 for their first year at high school,” she said.Meanwhile, Member of Parliament for South Manchester, Hon. Michael Peart, provided educational support for some 150 students residing in the Alligator Pond Division, at a cost of over $500,000 from the Constituency Development Fund (CDF).“Next year we will be taking this programme to another level where your academic achievement and your attendance record will be investigated before a disbursement is made, to make sure that students who benefit from the programme are deserving of it, not only on need, but on performance,” Mr. Peart said.Both the Member of Parliament for South East St. Elizabeth, Mr. Richard Parchment, and Managing Director for Alpart, Mr. Timothy O’Driscoll, encouraged the students to do their best at school and reap the rewards in later years.For his part, Chairman of the Council, Lenworth Blake, reported that the group has spent some $12 million over the past year to develop communities, and for educational development.“There is no community around the plant where we have not done a project. We have helped the farmers, police station, fire station, and community centres. We also see the worth of education and we are prepared to invest in education,” Mr. Blake told the audience. Story Highlights Alpart, through its Community Council, has provided educational assistance to 625 students The programme assists needy students at all levels of the educational spectrumlast_img read more

IATA airlines push ahead to modernize BSP

first_imgIATA airlines push ahead to modernize BSP Tags: IATA Posted by Travelweek Group << Previous PostNext Post >>center_img GENEVA — IATA member airlines have given the green light to full implementation of the New Generation of IATA Settlement Systems (NewGen ISS), billed by IATA as the most extensive and ambitious modernization of the IATA Billing and Settlement Plan (BSP) to date, facilitating the global distribution and settlement of funds between travel agents and airlines.Last year the BSP processed US$219 billion in airline funds with 100% on-time settlement.“Implementation of NewGen ISS is a critical step forward by the global air transport industry in ensuring that the BSP continues to serve the industry’s financial settlement requirements for years to come. It is the culmination of a multi-year engagement with participants in the air travel value chain, including airlines, travel agents, and IT and system providers. It will bring greater options and flexibility to our travel agent partners, while providing even more financial security to airlines,” said Aleks Popovich, IATA’s Senior Vice President, Financial and Distribution Services.The three pillars of NewGen ISS are:Three levels of travel agent accreditation: Travel agents will be able to choose the model most applicable to their business, as well as to convert across models as their business evolves.IATA EasyPay: A voluntary pay-as-you-go e-wallet solution for issuance of airline tickets in the BSP that offers a lower cost per transaction. As a secure form of payment, IATA EasyPay transactions are not part of a travel agent’s cash sales at risk. This allows travel agents a means to lower their financial security amounts held with IATA, and to issue transactions which are not included in their BSP remittance capacity.Global Default Insurance: An optional financial security alternative for travel agents that presents a cost effective and flexible alternative to bank guarantees and other types of security.More news:  Beep, beep! Transat hits the streets with Cubamania truckNow a fourth pillar has been added: Remittance Holding Capacity (RHC), aimed at enabling safer selling and mitigating losses resulting from travel agency defaults. For the majority of travel agents, the RHC will be calculated based on the average of the three highest reporting periods of the previous 12 months plus 100%.IATA says measures will be available allowing travel agents to manage to their RHC, and to continue selling in a secure manner should their RHC ever be reached. A joint travel agent and airline group has been working collaboratively on RHC over the past year.“Remittance Holding Capacity is about safer selling. Airlines have no desire to restrict or limit travel agent sales. At the same time it is important to have agreed-upon, prudential safeguards in place to protect airline revenues. The RHC levels are the outcome of a collaborative process involving airlines and travel agents, to ensure that travel agents have the flexibility they need, while protecting airline ticket sales,” said Popovich.More news:  Can you guess the top Instagrammed wedding locations in the world?Provisions have also been drawn up for Transparency in Payments (TIP), a new industry initiative. TIP reveals the different features and costs associated with each form of payment and agent remittance of airline funds. As it stands today, airlines only see the settlement costs after the fact, if at all. No form of remittance is barred by TIP, but travel agents can only use those forms to which an airline has previously given consent.Importantly, TIP allows travel agents to use their own credit cards – previously not supported in the BSP – if an airline consents.“Transparency in Payments provides a pro-competitive framework for bilateral arrangements between airlines and travel agents that will facilitate the introduction of new and innovative payment solutions,” said Popovich.NewGen ISS and Transparency in Payments will be rolled out progressively from March 2018. Certain pillars, including IATA EasyPay and Global Default Insurance (GDI) are already available in some markets. GDI has been implemented in more than 20 markets worldwide, while IATA EasyPay is being piloted in Norway, Sweden, Finland and Iceland. Share Thursday, November 23, 2017 last_img read more