The International Air Transport Association (IATA), announced the successful implementation of IATA"™s Cargo Accounts Settlement Systems (CASS) in Russia in partnership with Russian bank VTB and Aeroflot.
CASS is designed to simplify the billing and settlement of accounts between airlines and freight forwarders. It 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 on-time settlement rate was 99.999%, settling a combined $26.4 billion.
"The implementation of the CASS in Russia is an important step forward. IATA"™s CASS links Russian aviation to a massive global network, bringing tremendous efficiencies to airlines and freight forwarders. Now all freight forwarders and airlines operating cargo services from Russia can benefit from the global best practices and the new technology CASS is bringing to the market," said Rafael Schvartzman, IATA"™s Regional Vice President for Europe.
One of Russia"™s largest financial institutions, VTB Bank, is the official clearing bank for CASS Russia.
"Participation of the largest Russian banking group, VTB, in the implementation of CASS 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," said Victoria Vanurina, a Member of the VTB Bank Management Board.
Aeroflot played a critical role during the CASS implementation, working closely with the Russian aviation authorities and other airlines.
CASS is an important step towards taking 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 The next step is removing the outdated paper-based processes from air cargo by implementing electronic Air Waybills (e-AWB).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 as a result of the legislation recently approved by the State Duma and signed by the President Putin, allowing ratification of the Montreal Convention of 1999 (MC99).
MC99 modernizes and unifies the international treaty regimes covering airline liability that have developed haphazardly since 1929. It is a prerequisite for the industry"™s e-cargo initiatives, such as the e-air waybill and e-freight, which will make air cargo more efficient and reliable.
"This is a very significant development that will help speed up air cargo shipment times, improve efficiency and reduce costs for airlines and shippers on flights to and from the Russian Federation. We look forward to the completion of the ratification process as soon as possible," said Schvartzman.
