ToolNOW - The First Online Brokerage Platform for Tool Loans in the Aviation Industry

At the International Airlines Technical Pool (IATP) Conference in Riga, Latvia, Lufthansa Technik AG is presenting ToolNOW, the first online brokerage platform for tool loans in the aviation industry, under its brand AVIATAR. 

Both, Airline operators and MRO companies worldwide can use this platform to cover their aircraft-related tool requirements through loans. Their requests are answered by other MRO companies, manufacturers and airlines on the platform. 

The loan process is simplified considerably through standardized requests and offers. This also reduces the time between request and delivery of the tools. In addition, users can track the live status of their requests at all times. The more customers use ToolNOW, the bigger the network becomes. MRO companies, OEMs and airlines can thusshare their tool inventories and are no longer dependent on the costly expansion of their own inventory.

Right from the start, the functionalities of the ToolNOW platform were defined and implemented in close cooperation with future users such as TUIfly GmbH.

"ToolNOW is a completely new business model. It is based on our experience in the tool loan business and extends the range of services offered by the digital AVIATAR platform. Through the use of ToolNOW, required tools can be ordered quickly and well enough in advance. The time that an aircraft spends on the ground can thus be reduced considerably, resulting in enormous cost savings," says Martin Beecken, ToolNOW Project Manager at Lufthansa Technik.