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IATA Clearing House

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:

  • On-line filing of weekly claims and retrieval of reports
  • Fast debt-collection under a published annual calendar
  • Improved receivables and cash management
  • Great reduction in interline collection work
  • Enlarged interline market resulting in increased credit
  • Greatly increased protection against bad debts and bankruptcy
  • Reduction or elimination of Central Bank authority to remit monies and of bank charges
  • Currently 3 currencies of clearance and settlement, GBP, USD and EUR are offered; however 2 additional currencies will be offered in the future - JPY and AUD.

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