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ATPCO to Split Advisory Council into Five Groups

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ATPCO is dividing its Advisory Council into five specialized areas, including councils focused on distribution and offers, in an effort to implement new standards and technology across the industry.

ATPCO created its Advisory Council, made up of senior leaders from airlines, technology suppliers and industry organizations, in 2013, and it now will operate councils focused specifically on offer content, distribution and infrastructure, customer care, settlement, and market tools. The structure is meant to “facilitate far better focus, agility and innovation and create better opportunities for former [Advisory Council] members to take the right actions at the right time to ensure faster speed to market,” according to ATPCO head of industry standards David Smith.

The settlement and market tools councils will launch in early 2022, and the other three already launched earlier this year. The Customer Care Council in particular is focused on automating changes so that airlines can better communicate change fees and refund policies to both travelers and travel sellers. The councils also are working to provide “consistent, automated airline policy” in creating dynamic offers, the Next Generation Storefront initiative and the International Air Transport Association’s New Distribution Capability standard.

Each council plans to meet up to six times per year and are led by business sponsors nominated by ATPCO. Air Canada senior director of distribution and payments Keith Wallis is leading the Offer Content Council, Delta Air Lines VP of commercial development Derek Adair is leading the Distribution and Infrastructure Council and Amadeus VP of industry and expertise Hervé Prezet is leading the Customer Care Council. Hawaiian Airlines director of revenue and accounting Jerry Fonacier will lead the Settlement Council, and British Airways product support manager Stefania Di Gesu will lead the Market Tools Council.



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Bloomberg names Green ME of finance for Americas

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Rick Green

Rick Green has been named managing editor for finance in the Americas at Bloomberg News, effective July 11.

He is currently senior editor for markets at Bloomberg.

Green was previously a team leader for distressed company news. He was also corporate finance editor and a senior editor on the U.S. finance team.

Before Bloomberg, Green was assistant managing editor for business and technology at Newsday. He also worked at BusinessWeek magazine as a senior editor and at SmartMoney magazine.

 





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Liberty Steel secures time with Greensill as debt rstructuring continues

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Liberty Steel Group has entered a standstill agreement with Greensill Bank.

It pauses all enforcement actions between the South Yorkshire headquartered business and the subsidiary of the collapsed financial institution as it focuses on recovery.

Greensill Bank, part of Greensill Capital, is Liberty’s largest creditor on the business’s debt facilities, provided in 2019.

Read more:£26m British Steel Special Profiles upgrade given the go-ahead

The agreement lasts until October 31, with potential to extend until the end of the year.

Liberty said it will enable the company to develop a longer term sustainable financing structure, with detailed due diligence and information exchange continuing between the two parties.

A Liberty spokesperson said: “Today’s standstill agreement with Greensill Bank demonstrates we are getting close to a consensual debt restructuring that is in the best interests of all our stakeholders.

“We are working intensively towards a settlement with our major creditors in a timeframe which would obviate the need for a legal battle. Our core businesses continue to perform well and are operationally strong despite some economic headwinds.”

HMRC had filed then withdrew a winding up petition for Liberty earlier this year as progress with creditors was made.



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At Close of Business: Jordan Murray talks an Australian republic

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Journalist Jordan Murray discusses revived debate over the possibility of an Australian republic.



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