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Airfasttickets: The company does not have any overdue debts with any suppliers

Airfasttickets has never, and certainly not in the past 50 days, had its transactions audited, says the company.

On the occasion of the published report regarding alleged action taken by IATA against the company, claiming arrears amounting to 45 million euros, Airfasttickets International states the following:

The report is inaccurate as no constraints whatsoever have been placed on online sales and all Group sites, in all countries, continue to operate normally.

Airfasttickets does not have any overdue debts with any suppliers.

A subsidiary company of Airfasttickets International is conducting operations in Great Britain. However, neither the British company nor any other company in the Group has any financial obligations exceeding the payment terms for their settlement.

Airfasttickets has never, and certainly not in the past 50 days, had its transactions audited. The management of the company and IATA entered into communication regarding the potential extension of letters of guarantee, due to the dynamic increase in sales of Airfasttickets, which amounted to 1,937% in the 2013 to 2014 fiscal period. In accordance with the agreement between Airfasttickets and IATA, the company retains the right to request an extension of up to 60 days.

As regards Airfasttickets sales for May and June, the actual figures are much higher than those mentioned in the report.

Mr Nikos Koklonis, President and CEO of Airfasttickets, affirms, “Airfasttickets cash reserves far exceed the total debts of the company. Airfasttickets, which is based in Greece, is the fastest growing business in the country and in the world, in the passenger traffic industry. We are honoured that quality of our services and our low prices have helped us achieve the No. 3 position in all of Europe. That is what we did. That is what we do. That is what we will continue to do. Our financial robustness remains unassailable. We thank our millions of customers for their trust and are committed to offering even more innovative services in the near future.”

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Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.

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