The business aviation spend management platform MySky has signed a deal with energy and commodities data company S&P Global Platts to enable its customers to gain information on global jet fuel price assessments.
The partnership will allow MySky customers access to the “most precise benchmarking tool on fuel costs for private aviation owners, operators and consultants”. MySky claimed the new capability will enhance its existing platform, making it the most reliable source of information available.
Kirill Kim, co-founder and CEO of MySky, said the company aimed to provide clients with the state-of-the-art tools to more efficiently manage the costs of their assets.
‘New level of transparency’
“Our agreement with S&P Global Platts brings a new level of transparency to the private aviation industry, strengthening our database, so that we can provide our customers with the information they need to achieve long-term financial success and drive the industry forward,” he said.
The MySky platform offers clients proprietary IT tools that automate essential tasks including data administration, benchmarking, budgeting, and reporting. Already backed by 15m data points, the spend management platform’s database will expand significantly as a result of the partnership. “The inclusion of S&P Global Platts jet fuel price assessment data will help establish a more fair and dynamic competitive landscape for industry suppliers, allowing them to accurately benchmark fuel costs,” according to the company.
‘Benchmark fuel costs’
Silvina Aldeco-Martinez, head of Product Management, S&P Global Platts, said: “The essential intelligence from S&P Global Platts has helped drive innovation across numerous energy and commodities industries and we are excited to work with MySky to bring these same capabilities to private aviation to make a long-lasting and positive impact on the industry.”
Meanwhile, in May MySky launched in the US, after raising $5m of funding. The business also appointed Jean De Looz, as head of Americas, to lead growth through the Americas – starting with the US. The company operates across Europe, the Americas and the Commonwealth of Independent States (CIS) region and reported 60% growth in the first quarter of 2020. Headquartered in Switzerland, the company services more than 350 aircraft worldwide.