What does it mean FIT fares for tour operators?

FIT fares normally refers to the cost incurred for Individual travellers. Normally below 10 Passengers or in some cases even 15 also. FIT refers to "Free Individual Travellers".

The other term referred is GIT, which is the Group Inclusive Tour ( Basically these tours would have departure dates, which normally covers most of your expenses like Accommodation, transfers & sight seeing in a preset fashion)