Business Travel Glossary

A 

Ancillaries: Additional services or products offered by airlines or hotels, such as seat selection, extra baggage, or in-flight meals, that aren't included in the base fare. 

B 

Bleisure: A blend of business and leisure travel, where travellers extend their work trips for leisure purposes. 

Business Travel Programme: A structured plan implemented by organisations to manage and optimise business travel activities and expenses. 

C 

Codeshare: An arrangement between two or more airlines to share the same flight, allowing each to sell tickets under its own brand. 

Continuous Pricing: A dynamic pricing strategy that involves constant adjustment of prices based on real-time supply and demand. 

D 

Dynamic Pricing: A flexible pricing model that allows companies to adjust prices based on current market conditions. 

Duty of Care: The responsibility of an organisation to ensure the safety and wellbeing of its travelling employees. 

F 

Fare Class: A category of airline ticket prices determined by factors like refundability, change fees, and seat availability. 

Frequent Flyer Programme: A loyalty programme offered by airlines to reward customers with points or miles for each flight taken. 

G 

GDS (Global Distribution System): A network that enables travel agents and companies to access and book travel-related services such as flights, hotels, and car rentals. 

Group Travel: Organised travel arrangements for a group of people, typically involving ten or more people travelling on a single booking.  

H 

Hotel Loyalty Programme: A rewards system that offers benefits to repeat guests at a hotel or hotel chain. 

I 

IATA (International Air Transport Association): A global trade association representing airlines, responsible for setting industry standards. 

L 

Layover: A temporary stop at an airport between connecting flights. 

LCC (Low-Cost Carrier): An airline that offers low fares but eliminates many traditional passenger services. 

M 

Managed Travel: The practice of organising and controlling a company’s travel activities to maximise efficiency and minimise costs. 

Marine Fares: Special airline fares offered to marine industry personnel. 

MICE (Meetings, Incentives, Conferences, and Exhibitions): A sector of travel focused on organising and facilitating large-scale events on a domestic or international scale.  

N 

NDC (New Distribution Capability): A travel industry standard that enhances the ability of airlines to sell ancillary services through third-party channels. 

Nett Rate: A discounted rate provided by a supplier to a buyer, excluding commission. 

O 

OBT (Online Booking Tool): A digital platform used by companies to book travel arrangements online. myTC Online is an example of an OBT.  

P 

Pax: Short for passengers. 

PNR (Passenger Name Record): A record in the database of a computer reservation system that contains the itinerary for a passenger or a group of passengers. 

Point to Point: A direct travel route from one location to another without stops. 

R 

RAC (Revenue Accounting Code): A code used in ticketing and reservations to identify a fare's pricing structure. 

Reissue: The process of changing or updating an existing travel ticket with new information, such as a new flight date or time. 

Responsible Travel: Travel that considers its impact on the environment, culture, and economy of the destination. 

RFP (Request for Proposal): A document issued by a company looking for suppliers to submit proposals for a specific service – much like a tender.  

S 

SAF (Sustainable Aviation Fuel): Eco-friendly fuel made from renewable resources used in aviation to reduce carbon emissions. 

Self-Booker: An individual who arranges their own travel using online tools or platforms. 

SLA (Service Level Agreement): A contract that defines the level of service expected from a service provider. 

T 

T&E (Travel & Expense): Refers to the management of expenses incurred during business travel. 

Travel Booker: The person responsible for making travel arrangements for an organisation or individual. 

Travel Counsellor: A personal travel advisor and independent business owner who manages and books travel arrangements with a focus on customer care. 

Travel Management: The strategic approach to planning and booking travel for a company to control costs and improve efficiency. 

TMC (Travel Management Company): A company that provides travel solutions, including booking, support, and policy management, to businesses. 

Travel Policy: Guidelines set by an organisation to govern employee travel behaviour and expense reimbursement. 

TTV (Total Transaction Value): The total value of all transactions processed by a travel agency or management company. 

W 

Waitlist: A queue for passengers wanting to purchase a ticket on a fully booked flight. 

Y 

Yield Management: A pricing strategy used to maximise revenue by adjusting prices based on demand.