Play China Marketing Video
Volume 14,Issue 3 Autumn 2012

CAAC, IATA sign settlement service accord


The Civil Aviation Administration of China’s Settlement Center and the International Air Transport Association (IATA) signed a finance settlement service agreement on April 2 that seals a bilateral business cooperation between the two entities. CAAC Minister Yang Yuanyuan, who attended the ceremony, said because of China’s reform to open its economy to the world, civil aviation has experienced rapid development in the last decade. Last August, CAAC and IATA signed a memorandum of understanding for cooperation to provide better service to domestic and foreign airlines in China. The new agreement will improve the settlement efficiency of air route fees of foreign airlines and reduce settlement costs and simplify business procedures.

[ Print ][ Close ]

Copyright © 2012 by Uniworld, LLC All rights reserved

To request permission to use content,Email China Civil Aviation