Galaxy Billing and Settlement Program launched

Galaxy Travel Distribution System Ltd., specialising in on-line global travel distribution systems for ground services, today announced a groundbreaking initiative called Galaxy Billing and Settlement Program (Galaxy BSP), the travel industry's first, in-house billing and settlement program offered exclusively for ground services.

Effective the 1st April 2004, Galaxy BSP is providing a number of unique advantages to current and prospective Galaxy Travel Distribution System (Galaxy TDS) users. These include:

· Access to a highly efficient global billing and settlement mechanism to all participating suppliers of ground services inclusive of a comprehensive global credit risk insurance cover. 

· A quick payment cycle to suppliers making Galaxy BSP a more attractive BSP vehicle to ground services suppliers.

Only recently non-IATA agents have been able to make use of Galaxy TDS making payment of ground services only via credit card. Now Galaxy BSP provides non-IATA and IATA retail travel agents a credit term facility provided they meet the necessary requirements and a range of payment methods to suit their needs.

Galaxy plans to offer Galaxy BSP to the travel industry as a new global billing and settlement mechanism available to market operators not necessarily taking part in Galaxy TDS.

Mr Paul J. Casey, President & Chief Executive Officer, Galaxy Distribution System Ltd., stated "Thanks to our highly sophisticated collection and payment service, Galaxy BSP will significantly shorten the payment cycle for suppliers. This will ultimately attract a wider range of suppliers of travel products at more competitive prices."