Managing your Money
IATA is the industry’s trusted partner for an efficient, reliable, and cost-effective means to simplify the selling, reporting, and remitting procedures of airline tickets and air-waybills through its various settlement systems (ISS).
In 2012 IATA successfully handled $371.5 billion of industry money. The Billing and Settlement Plan (BSP) and Cargo Account Settlement Systems (CASS) settled 99.98% of funds on time.
However the evolution of the airline distribution model is currently impacting the IATA Settlement Systems and has triggered the need to review our existing model. IATA has launched the NewGen ISS project to maintain the relevance of IATA Settlement Systems in the future.
As part of its continuous efforts to enhance the security and reliability of ISS today, IATA will complete the consolidation of all IATA Settlement Systems back office operations into five regional hubs based in Amman, Beijing, Madrid, Miami and Singapore by December 2013.