Aventus to Overhaul Operational Efficiency of Airline Cargo with Blockchain
- Enterprise-grade blockchain Aventus partners with national airline
- Using blockchain, Aventus will bring increased efficiency and reduced costs to cargo management
- Partnership will also enhance inter-party trust and improve cargo management auditability
London, July 28, 2022: Aventus, an enterprise-grade blockchain, today announces a partnership with a national airline to resolve the operational inefficiencies plaguing airline cargo management with blockchain technology via its new product, Aventus Aviation.
In the face of current macroeconomic and industry challenges, including labour and equipment shortages, increasing demand and all-time-high air fuel prices, it is crucial for airlines to increase the stability and efficiency of their systems.
Aircraft container (or ULD) management is vital to efficient cargo operations. But currently, issues including non-digital data input, non-standardised databases, low transparency of data and challenges around auditability all result in slower turnaround times and revenue loss for airlines.
Aventus Aviation will migrate ULDs onto the blockchain, bringing a number of benefits to the airline, including:
- Constant ULD tracking, resulting in improved turnaround times and ensuring ULD availability during peak periods
- Full digital accountability for ULDs by ground staff
- Fully transparent custody chains, resulting in increased inter-party trust and enabling demurrage and transfer charges
All of which will bring increased efficiencies and cost savings.
The solution will also integrate fully into airlines’ existing ULD management systems, causing minimal disruption.
Heathrow Airport, the airport at which the pilot scheme will be conducted, will also see benefits, including:
- More efficient slot rental capabilities
- Reduced delays from ULD operations
- Reduced manpower and time spent on ULD coordination on behalf of airlines
- Future-proofed operations through the implementation of an interoperable and resilient blockchain, which can also later be extended to serve other operations across the airport
- Immutable, secure and readily auditable data by the Civil Aviation Authority
Following a month-long pilot in which Aventus Aviation will endeavour to bring cost savings to the airline, the project will go into full production, at which point the project will be rolled out across multiple airports and additional airlines will be invited to join.
Alan Vey, founder & Chairman at Aventus, comments: “The real-world applications of blockchain can help bring operational efficiencies and cost savings at a pace and scale never before seen – which has never been more crucial for many sectors than now, at this global crunch point, in the face of rising inflation. And aviation is a great example of that. We’re excited to be on the frontier of overhauling this space, bringing new opportunities to an industry that has been simply fighting to survive for the last three years.”
Maurizio Beni, co-founder of Aventus Aviation, and previous Director at Alitalia, adds: “The aviation sector has changed the way we see the world. But despite its advancements in many areas, in the almost five decades I’ve been in the industry, the approach to cargo management has remained rudimentary, and it’s now a critical hurdle for airlines’ efficiencies. Blockchain has the potential to bring unparalleled efficiencies to cargo management – which might be the difference between airlines thriving or dying in this challenging time for the industry.”