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Russia takes to IATA's Cargo Accounts Settlement Systems (CASS)
RUSSIAN bank VTB together with carrier Aeroflot have launched IATA's Cargo Accounts Settlement Systems (CASS) that simplifies the billing and settlement of accounts between airlines and freight forwarders through an e-billing platform to facilitate cross-border trade.
VTB Bank board member Victoria Vanurina noted that the CASS programme rollout in Russia will, "ensure increased effectiveness and efficiency of the settlement process between Russian airlines and freight forwarders and, therefore, will facilitate further integration of Russian airlines into the global air transport industry."
By the end of 2016, CASS was operating in 93 territories worldwide, helping airlines, general sales and service agents (GSSAs) and forwarders settle a combined US$26.4 billion in freight-related transactions, reported New York's Air Cargo World.
The implementation of CASS moves the air cargo industry a step closer to removing paper-based processes through the use of electronic air waybills (e-AWB), although, the initiative is struggling to gain traction.
VTB Bank board member Victoria Vanurina noted that the CASS programme rollout in Russia will, "ensure increased effectiveness and efficiency of the settlement process between Russian airlines and freight forwarders and, therefore, will facilitate further integration of Russian airlines into the global air transport industry."
By the end of 2016, CASS was operating in 93 territories worldwide, helping airlines, general sales and service agents (GSSAs) and forwarders settle a combined US$26.4 billion in freight-related transactions, reported New York's Air Cargo World.
The implementation of CASS moves the air cargo industry a step closer to removing paper-based processes through the use of electronic air waybills (e-AWB), although, the initiative is struggling to gain traction.
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