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TeachMeFinance.com - explain House Air Waybill House Air Waybill -- 1. A bill of lading issued by a freight forwarder for consolidated air freight shipments. 2. An airwaybill issued by an airfreight forwarder by which the forwarder assumes the risk and obligations of being "the carrier." Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.