Travel Agency Glossary
Plain-English definitions of the airline and B2B travel terms agencies use every day. Each entry gives a one-sentence definition, how it works, why it matters for your agency, and a worked example.
Bookings and tickets
| Term | Definition |
|---|---|
| PNR (passenger name record) | The booking record in an airline or GDS reservation system, with passenger names, itinerary, contacts and ticketing information. |
| Ticketing time limit (TTL) | The deadline by which a held reservation must be ticketed before the airline may cancel it. |
| E-ticket | The record of a paid air ticket, identified by a 13-digit ticket number. |
| Void | Cancelling an issued ticket within the void window, before it is reported for settlement. |
| Fare rules | The conditions of a fare: changes, refunds, stay rules, advance purchase, baggage and validity. |
Pricing and margin
| Term | Definition |
|---|---|
| Net fare | A non-commissionable fare given to an agency or consolidator, to which the seller adds its own markup. |
| Markup | An amount or percentage a seller adds to a net price to set the selling price. |
Trade and settlement
| Term | Definition |
|---|---|
| Consolidator | A wholesaler that negotiates net fares with airlines and resells them to agencies, often ticketing for agencies without IATA. |
| IATA accreditation | Approval that lets an agency sell and issue tickets for participating airlines and settle via BSP. |
| BSP (Billing and Settlement Plan) | IATA's system that settles money between accredited agencies and airlines in a market. |
More terms are added regularly. For longer guides, see the blog.
Book flights for your customers
QuickOTA's B2B Panel is free: search, hold and ticket flights, with the full cost shown before you book. QuickOTA does not require IATA accreditation; QuickOTA issues the ticket for your booking.