The Settlement with Orders (SwO) program introduces a streamlined and efficient settlement solution based on orders. It builds on the capabilities delivered by NDC and ONE Order which enable the accounting functions using the airlines’ order management systems.
Travel settlement made easy
SwO is a framework for the settlement of agreed orders between partners. The SwO standard consists of a lean XML data exchange standard and of a process agreed by the industry.
Based on a pre-agreement between two parties, the settlement process can be enabled by a simple claim requiring minimal data. The partners are informed about the settlement process results based on the same data exchange.
In a first phase, the SwO standard will be applied to the settlement between Carriers and Sellers, using the current agency program framework.
Extension of order usage
Airlines and sellers will now benefit from an order-based framework all along the value chain from distribution to settlement and accounting of payables and receivables. It will thus complement NDC and ONE Order benefits.
Better cash management & reconciliation for airlines and sellers
- At the time of sending the claim, the carrier and seller immediately receive the settlement respective remittance date, greatly facilitating cash management
- At the time of remittance and settlement, the bank movement (credit or debit) can be instantly matched back with the remitted or settled claims for an automatic reconciliation of bank payments
Standard & governance
- Financial Services Development Working Group (FinDev):
SwO is sponsored by FinDev, the industry group responsible for the development and implementation of industry financial services and settlement systems.
- Passenger Services Conference (PSC):
The Pay-Account Standard Board (PASB), which reports to the PSC oversees the development of the SwO standard. The actual development of the standard is the task of the Settlement with Orders Group (SOG), comprised of 13 airlines (Air France, American Airlines, British Airways, Cathay Pacific, Emirates, Hahn Air, KLM, Lufthansa, Qantas, Singapore Airlines, Swiss, Turkish Airlines, United Airlines).
- Passenger Agency Conference (PAC):
The SwO framework will be integrated into the current PAC for aspects related to risk management, participation, transaction reporting and settlement.
- Since October 2019, the Settlement with Orders Standard has been approved by the PSC.
Visit the Air Tech Zone for further information and Standard download.
What experts say about SwO
Testimonials gathered at the World Financial Symposium 2019.
Interested in joining the pilots?
If you are interested to become a SwO champion and join the pilots or for any other question, please contact us at SwO@iata.org