Letters on a pass (3)

I believe the answer is:

vip

(Other definitions for vip that I've seen before include "The red carpet is rolled out for him" , "Important individual, initially" , "Significant or high-ranking person, in short" , "'High-ranking person, initially (3)'" , "Initially, individual of high status and influence" .)

I've seen this clue in The New York Times.

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