Thanks all of you,
All these are real guidelines for me, and i am taking these as my launch pad.
I am redoing the site from the scratch.
But Debra,
Overall, get your site in working order before you launch a links campaign. No one will want to link to a site that purports to offer discounts on airfare and yet can't produce any flight information.
Unless i get a fare amount of traffic on site, it is difficult to put online booking system in the site.
Sorry mate... but if it was one of my sites I'd have this page down within seconds.
Steve, i am removing the links which are looking spammy to me and organizing in categories.
Secondly, the first link on the page is to a "Free Link Exchange". I'm assuming you got all of these links from that exchange, and that your "payment" for getting them is that you have to link back to it, and to all of the pages which are now linking to you. And that just happens to be my own definition of a link farm.
Bob, the link page isnt generated automatically. I have put "travel link exchange" in google, and followed the results.
You know i got very much frustated looking the SERPs of my target keyword. Put "Cheap Airfare" in google, and look at the first two results. They are getting the backwards links from the same sites, from which i am getting. And both the sites dont sell any tickets. Both are part of a link exchange group.
In this scenario how one can be ethical and apply good practice and still expect good results.
BTW i am redoing the site, thanks David, Steve, Debra and you Bob for most valuable suggestions to me. Sorry for my poor english, its not my first language.