The International Air Transport Association (IATA) announced during its Passenger Tariffs Conference that the YY Fares, which are suggested by the association, will be officially removed by October 31, 2018.
These fares were stablished by the Chicago Convention in 1944 as a global framework to benefit consumers. As the association explains, most consumers used YY fares until the 1980s, but they were gradually replaced by airline-stablished fares due to “competition, deregulation, alliances, liberalized bilateral agreements and developments in antitrust regulation. Today YY fares account for just 0.03% of tickets sold.”
In 2006 IATA adopted the Flex Fares system, which established a dynamic platform to publish each airline rate online. As a result, the organization established new standards in ticket reservation systems, such as the New Distribution Capacity (NDC) and the ONE Order initiative to find the best offers for aircraft users.
IATA will continue supporting the current multilateral airline system, which allows airlines to reach markets in which they do not operate directly, generating more revenue. This system allows the efficient addition of new destinations given customers more choices.
Sources: IATA and A21.