Core Viewpoint - The aviation industry is undergoing a significant transformation towards digitalization and retail service integration, with companies like China Aviation Settlement Co., Ltd. leading the charge by developing a smart settlement system in collaboration with Tencent Cloud [1][2][8]. Group 1: Digital Transformation in Aviation - The aviation sector is shifting from being mere transportation service providers to comprehensive retail service providers, driven by digital transformation [2][3]. - The International Air Transport Association (IATA) introduced the New Distribution Capability (NDC) in 2012 to reduce reliance on traditional Global Distribution Systems (GDS) and enhance direct connections with agents and customers [2][3]. Group 2: Complexity of Settlement and Clearing - The increasing complexity of orders and services in the aviation industry necessitates a shift from traditional ticket management to order-centric lifecycle management, requiring advanced data processing capabilities [3][4]. - The settlement and clearing processes are complicated by factors such as interline flights, refunds, and cross-border transactions, leading to delays in revenue recognition for airlines [4][5]. Group 3: Implementation of New Technologies - The third-generation passenger revenue management platform, launched in 2023, is designed to support both traditional and new airline business models, facilitating efficient clearing processes [5][6]. - The platform features real-time settlement capabilities, significantly reducing the clearing and settlement cycle, which is crucial for airlines to optimize marketing and operational strategies [6][7]. Group 4: Strategic Collaboration with Tencent Cloud - The partnership with Tencent Cloud aims to build a dedicated cloud platform that enhances the technological foundation for the aviation settlement business, ensuring sustainable development [7][8]. - The collaboration is recognized as a model for industry-level cloud cooperation, combining Tencent's technological strengths with the settlement company's industry expertise [7][8]. Group 5: Future Outlook - The integration of digital technologies and financial services is expected to enhance the resilience of the entire aviation industry chain, with settlement systems evolving into key components of marketing and operational support [6][8]. - As the aviation industry moves towards order-based, intelligent, and sustainable services, the role of settlement businesses will expand beyond backend support to become active participants in innovation and collaboration [8].