OANDA proudly partners with IATA, the International Air Transport Association, to provide the airline industry with accurate, automated, and reliable exchange rates data for their finance team’s currency conversion needs.
83% of world’s air traffic
1 FX partner
The International Air Transport Association is a trade association of the world’s airlines. Consisting of 268 airlines, primarily major carriers, representing 117 countries, the IATA's member airlines account for carrying approximately 83% of total Available Seat Kilometers air traffic. IATA supports airline activity and helps formulate industry policy and standards.
Safety is clearly the number one priority for IATA. But so is helping its members to run their business smoothly and adapt to the ever changing world transportation landscape. For this reason, IATA launched a series of initiatives over the past decades to introduce crucial concepts to passenger travel, including the electronic ticket and the bar coded boarding pass. Many other innovations are being established today, as part of the Fast Travel initiative, including a range of self-service baggage options.
The need for an FX partner
Just like any international organization, IATA and its members operate globally and deal with different currencies as part of their core business functions. Airline members’ finance, treasury, and accounting teams need to manage and update exchange rates daily to be used when converting fares, taxes, and fees.
Consolidated Exchange Rates
Thanks to the OANDA RatesⓇ, IATA can source accurate FX data for the Consolidated Exchange Rate file (ICER), which provides daily updates of exchange rates to be used when converting fares, taxes, and fees to alternate currencies of payment. ICER is the official source for international payment currency conversions used by the industry for pricing and ticketing.
The industry source adopted by IATA Member Airlines and Strategic Partners
Cost effective, automated solution for airlines and system providers
Simple, easy to use and reliable one-stop source
Incorporates certain governments requirements