A system that simplifies the billing and settlement of accounts between airlines and freight forwarders has been successfully implemented in Russia by IATA in partnership with Russian Bank VTB and Aeroflot.
IATA’s Cargo Accounts Settlements Systems (CASS) operates through CASSlink, an advanced, global, web-enabled e-billing solution. At the end of 2016, CASS was operating in 93 territories serving airlines, general sales and service agents (GSSAs) and freight forwarding companies.
The next step is removing the outdated paper-based processes from air cargo by implementing electronic Air Waybills (e-AWB)
The on-time settlement rate was 99.999%, settling a combined $26.4 billion.
CASS is an important step for Russian airlines and freight forwarders towards full advantage of today’s technology and innovative standards.
The next step is removing the outdated paper-based processes from air cargo by implementing electronic Air Waybills (e-AWB).
This is becoming possible due to legislation recently approved by Russia’s State Duma and signed by President Putin, allowing ratification of the Montreal Convention of 1999 (MC99).
MC99 modernizes and unifies the international treaty regimes covering airline liability and a prerequisite for industry e-cargo initiatives such as e-air waybill and e-freight.