IATA Set To Launch Second Currency Netting System July 4
CORPORATIONS
The International Air Transport Association (IATA), is set to launch a new currency netting system July 4, that will operate alongside its existing netting system.
Essentially, IATA member airlines work with two distinct pools of money. One constitutes payments that airlines make to each other for completed flights and other services. These payments are already being netted so that only the remaining balances are passed through the foreign exchange market.
The other pool of money represents a
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