The IATA Clearing House provides a competitive, seamless and secure service providing efficient, on-time settling of accounts between the world's airlines, airline-associated companies and Travel Partners.
Offsetting of mutual transactions can reduce hundreds of bi-lateral, multi-currency transactions for passenger, cargo, baggage, catering, ground-handling and other services to one single payable or receivable amount.
$54.3 billion in billing transactions was processed by the ICH in 2015, with a settlement success rate of 99.99999%.
All ICH transactions flow through the Simplified Invoicing & Settlement (SIS) system, by either manually entering invoice data directly into the platform or via electronic transmission of invoice data (IS-XML format).
Some of the key drivers that result in the IATA Clearing House benefits are: