What is a hip fare in iata?

A hip fare in IATA (International Air Transport Association) refers to a type of aviation fare that allows for flexibility and is typically offered to travel agents or corporate clients. These fares often come with certain conditions, such as restrictions on changes or cancellations, but provide competitive pricing for specific routes or travel periods. The term "hip" generally denotes that the fare is advantageous or appealing within a given market context.