This website uses cookies
More information
Business Air News Bulletin
Business Air News Bulletin
The monthly news publication for aviation professionals.
Related background information from the Handbook...


Ops Software

BAN's World Gazetteer

United Arab Emirates
The monthly news publication for aviation professionals.

Request your printed copy

MySky talks AI and the potential to increase profitability
MySky, an AI-powered spend management platform, explores how operators can use AI to increase profitability and considers the potential for reshaping the landscape of financial operations for charter companies.

Growth in the charter sector has not been without its share of challenges according to MySky. Time-consuming administration, rising inflation, complex procurement processes, cost management inefficiencies and timely quoting collectively conspire to erode profit margins. Navigating through this requires solutions that go beyond traditional approaches, which is where Artificial Intelligence (AI) can help.

From predictive maintenance to route optimisation, auto-quoting and invoicing, AI's capabilities are evident yet its potential is far from fully realised. As AI algorithms become more sophisticated, MySky suggests four ways in which it can transform business aviation charter operations.

Strategies for operational efficiency - charter companies can streamline processes, adjust workflows, digitise invoicing and drive down costs. Imagine an AI-powered ecosystem that orchestrates each area of operations seamlessly. Alleviating operators from repetitive administrative tasks grants them the gift of time that can be devoted to enhancing client relationships and forming meaningful interactions.

Supporting sustainable operations - by analysing real-time data, AI empowers charter operators with comprehensive insights, enabling them to make informed decisions that not only enhance operational efficiency but promote sustainable practices. It has the capability to do this across a range of areas, such as efficient resource management, predictive maintenance, optimised logistics and emission reduction through enhanced fleet planning.

Procurement optimisation - investing in procurement resources empowers mid-sized operators to compete with larger players in the market. AI's ability to analyse market rates, interpret complex financial processes, eliminate the anticipation of hidden charges and produce faster, more accurate quoting, offers a significant strategic advantage. Much like a search engine, AI empowers charter operators to benchmark costs, mitigate risks and strengthen their bottom line, granting users complete visibility over all contracted and uncontracted suppliers associated with a business aviation flight, including fuel, airport, and handling services.

Decision making and strategic insights - through enhanced strategic planning and resource allocation, AI can be a trusted assistant. Its algorithms analyse variables, crafting data-driven strategies that pave the way for better informed decision-making. Charter operators armed with AI-backed insights can navigate the ever-evolving landscape, ensuring sustained growth and profitability.

Ultimately, as the business aviation charter sector continues to evolve, the role of AI could become pivotal. By addressing financial challenges head-on and leveraging its transformative capabilities, charter operators could more easily achieve sustained profitability and success.

Other News
JSSI launches integrated brand structure
February 19, 2024
The company is celebrating its 35th anniversary with a corporate rebrand that reflects a synergistic product portfolio and a new software division; SierraTrax becomes Traxxall Aviator.
Jet.AI puts DynoFlight in reach of FL3XX customers
February 13, 2024
Rusada Envision becomes Veryon Tracking+
February 12, 2024
Following the acquisition of Rusada last year, Veryon has migrated the name of its aircraft management platform to Tracking+.
APG launches GPS anomaly detection app
February 12, 2024
NaviGuard can safeguard commercial and business flight operators from spoofing threats. The app detects abnormal GPS readings on iPads and verifies GPS data using radio navigation.