Facts & Figures
Fact Sheet - IATA Clearing House
- Interline agreements make it possible for passengers and freight-shippers to purchase multi-sector journeys involving transportation on any number of different airlines
- The IATA Clearing House enables the world's airlines and airline-associated companies to settle their interline billings securely, efficiently and on-time
- ICH reduces hundreds of bilateral, multi-currency transactions to one single payable or receivable amount
- More than 450 airlines and associates settle their accounts on a weekly basis
- 70% of these are settled through the netting process
- Requiring no movement of funds
- Assuring high credit and
- Currency protection
- Each participant is able to collect its dues promptly from the ticketing airline and airline-associated companies
- The IATA Clearing House settles over US$40 billion in interline and service transactions each year
- In 2009 the average period between interline billing transaction and its settlement was 12 days
- IATA’s financial systems processed over US$275 billion during 2009
- IATA Clearing House—US$40 billion
- IATA Currency Clearing Service — US$23.3 billion
- Billing and Settlement Plan (BSP) — US$191 billion
- Cargo Account Settlement Systems (CASS) — US$20 billion*
- Other – US$1 billion
* The figure is preliminary
Updated: February 2010