ar is never a welcome prospect, but the financial markets seemed to react with relief last week when President Bush told Saddam Hussein that he had 48 hours to get out of town. As this was being written, the clock was ticking, the Dow rising.

The travel markets are another matter. Our sigh of relief is still to come. The immediate impact of the president's ultimatum was to trigger another wave of rethinking by business and leisure travelers and a parade of announcements from suppliers about kinder, gentler cancellation and rebooking policies.

Regardless of one's personal political views, we hope all travel professionals can take some comfort from this: The sooner this apparently inevitable conflict begins, the sooner it will end -- and with it, we hope, the uncertainty that has kept consumers at bay.

• • •

ARC has spoken

he ARC board of directors, a stellar group of people who are employed by airlines, has uttered the final word -- for now -- about the voiding of tickets: There will be less of it.

Effective June 4, agents will have 24 hours after the day of the transaction to void a ticket in the GDS, and another 24 hours after that for voiding via IAR. That's it. Gone are the days when agents had the power to make a transaction disappear a week after the fact.

In response to agent concerns, ARC will help travel agents explain to clients that there's no point in "shopping around" for an agent with a better voiding window. The new rule will apply to all ARC outlets.

Still unclear is whether travel agency clients will be able to waltz up to an airport counter, flash some frequent flyer precious metal and get a waiver that the agency was unable to obtain.

Some agents may be surprised to learn that the airline employees on ARC's board are sensitive to this concern. ARC says it's not possible to "ensure that there would never be a case where a customer who has been denied a waiver through their travel agent would not possibly receive one at the airport." But ARC's directors say they want to ensure that such occurrences are "rare."

How we get from here to rare remains to be seen.

• • •

Chapters 11

S Airways, to its credit, is on schedule to emerge from bankruptcy protection.

United, to our dismay, is not. The airline uttered the "L" word for what appears to be the first time the other day, warning that it may be forced into liquidation if it doesn't get the labor concessions it claims to need. We hope it doesn't come to that. Despite all its faults, we'd prefer a reorganized United to no United.

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