Abacus eyes larger slice of local air travel market
Star Business Report
Abacus, a distribution solution company for airlines and travel agencies, aims to double its share in the growing air travel market in Bangladesh, a top official of the company has said."After signing of a partnership agreement with the Biman Bangladesh Airlines last year our market share is growing steadily in Bangladesh. If the top travel agents of Biman avail themselves of Abacus' service, we'll be able to double our market share from the existing 25 percent here," said Jack Morgan, vice-president, Southwest Asia and Indochina of the Abacus International Pte Ltd, at a presentation held jointly with Biman in Dhaka recently. Biman in July last year signed a partnership agreement with the Abacus International Pte Ltd, which set the stage for formation of the Abacus Bangladesh Pte Ltd. Biman has the 51 percent stake in the Abacus Bangladesh while the Abacus International holds the remaining 49 percent stake. The Singapore-based global reservation support company, which started its business in Bangladesh in 1998, has 153 agency locations with online service available in Dhaka and Chittagong and offline service in Sylhet. The company may make its service available in other cities. Speaking on the occasion, Biman Bangladesh Airlines Acting Managing Director Mahmoodur Rahman urged the travel agencies to use the service of Abacus for ticket reservation as the airline gets 51 percent refund of the charge it pays to Abacus for the service. Some travel agents misuse the online reservation system making false booking which costs the airline a huge chunk of money, said Mahmoodur, also chairman of the Abacus Bangladesh. Warning unscrupulous travel agents of action, he said the yearly incentives for the travel agencies will automatically be deducted against the unproductive bookings. Abacus International's South and West Asian head Stuart Crighton, Abacus Bangladesh General Manager Omar Farooq Malik and Operation Manager M Monirul Islam also spoke at the function held at a city hotel.
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