Hannover, Germany. 8th February 2016 -- The FuelPlus Group, the leading developer of aviation fuel administration software, has today announced the signing of an exclusive contract with Platts, the leading global provider of benchmark jet fuel price assessments. The agreement will enable FuelPlus to provide an automated contract price update function based on daily Platts data feeds into its airline.ONE software platform to airlines with fleets up to 40 aircraft.
Klaus-Peter Warnke CEO of FuelPlus said "Our mission has always been to empower the aviation industry to implement robust processes, increase efficiencies and control costs, and our new partnership with Platts fully supports this. We're very excited to enter into this collaboration as it signifies an historic way to enable smaller airlines to benefit from this valuable data. This huge segment of the airline market would ordinarily rely on their suppliers to provide price updates, but now airlines can calculate price updates independently using data direct from the source, bundled with our system. With benchmark prices sourced directly from Platts, our airline customers can benefit from enhanced contract updates and cost control."
Through the new partnership with Platts, FuelPlus offers this segment of the airline industry an opportunity to streamline and automate price updates based on Platts indexes. This means procurement will have greater control of their Platts based jet fuel contracts, and audit can be assured that price updates are independent.
"Platts is committed to serving and meeting the pricing, data and analytics needs of all segments of the aviation industry," said Andy Bose, General Manager, Petroleum at Platts. "We are very pleased to be the exclusive pricing provider to FuelPlus. The airline.ONE software is an efficient platform that will enable smaller airlines to access our benchmark jet prices for their contracting and fuel management needs."
These automated price updates are used in many areas of the system including:
- Demand and budget planning
- Tender management
- Contract management
- Accruals
- Month end closing
- Invoice verification
