AI-powered spend management platform MySky has entered into a strategic agreement with S&P Global Platts, a provider of information, prices and analytics for the energy and commodities markets. Under the terms of the agreement MySky clients will be able access S&P Global Platts' database of global jet fuel price assessments, in an effort to construct the most precise benchmarking tool on fuel costs for private aviation owners, operators and consultants.

The MySky platform provides users with proprietary IT tools that automate essential tasks including data administration, benchmarking, budgeting and reporting. Already backed by 15 million data points, the platform could expand significantly as a result of this partnership. In turn, MySky users will have increased control and visibility into how their money is being spent, empowering them to make smarter financial decisions. Additionally, 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.

“It is our mission to equip our clients with the state-of-the-art tools to effectively and efficiently manage the costs of their assets,” says Kirill Kim, co-founder and CEO of MySky. “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.”

Amid current global uncertainty, owners, operators and consultants are showing interest in spend management tools like MySky to help ensure financial stability and success for the future.

“Our intelligence 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,” adds Silvina Aldeco-Martinez, head of product management at S&P Global Platts.

Operating across Europe, the Americas and the CIS region, MySky reported 60 per cent growth in the first quarter of 2020.