AVEM AERO and Jetex to Launch the First on the Market Integration for Fuel Price Tracking
September 21, 2022
Estonia-based cargo air carrier AVEM AERO and Jetex, an award-winning global leader in executive aviation, are launching a software integration for automated fuel price tracking that will help avoid miscalculations and cover the risks caused by fluctuating fuel prices. Such a solution is unique for the urgent air cargo market.
Сonstant fluctuations in fuel prices are a huge “pain” for the ‘go now’ carriers. If earlier the range of prices at different airports could vary within the limits of hundreds of euros, now the price can be 125% higher per ton. The level of risk grows proportionally if using bigger aircrafts. Such volatility is unacceptable for the urgent air cargo sector, making the costs increase significantly. So the launch of AVEM AERO - Jetex software integration would become a real “painkiller” for the service providers as well as for the clients.
Air cargo companies constantly need to keep track of the up-to-date fuel prices. This is usually done manually and human error may occur from time to time. Moreover, it takes time to recheck it multiple times a day due to different fuel prices in different airports. But in the segment of urgent transportation this is unrealistic, since the quotes need to be done very quickly.
Previously, the average fuel price was used in quoting, but now the new software integration will allow operators to get actual fuel price at each airport and make calculations based on the current price. Meaning that the charter cost will always be relevant.
“This integration correlates a lot with our all-in price policy. This means that nothing can affect the charter price if fundamental parameters do not change. Accordingly, it is important for us that the price is up-to-date in order to reduce financial risks. And this solution fits perfectly into our all-in price philosophy, when the client sees the full cost immediately, without hidden extra charges,” comments Nikolay Kurbanov, AVEM AERO Managing Director.
Integration involves full automation of the request for the current fuel price as well as automation of updating the price in the charter cost quoting system as soon as the price changes. It also automates the request for the fueling service itself, excluding the human factor: no need to write emails and wait for confirmation.
“As a global brand, Jetex aims to deliver utmost convenience and the best value to its clients through constant innovation of its digital platforms. The new system integration will allow our clients to manage their budgets better and benefit from the best fuel prices available on the market,” said Adel Mardini, Founder & CEO at Jetex.
Such level of process automation was available previously for large air cargo market players only. The solution minimizes financial risks, speeds up operations and eliminates the human factor. There will be no more situations when you have to tell the client that due to fuel price fluctuations the charter cost has increased by 5 times.
Furthermore, it will allow the clients to save money as the company will be able to choose technical stop airports with the most reasonable fuel prices.