LeaseWorks, a provider of cloud-based solutions and services, signed aircraft lessor BBAM as its first customer for the recently launched LeaseWorks Utilization Tracker within the Aeris MATCH software ecosystem.
“We are delighted to expand our long-term relationship with BBAM with the roll out of the Utilization Tracker module. Analyzing up-to-date utilization information is central to BBAM’s ongoing ability to effectively manage their growing aircraft portfolio,” Haseem Vazhayil, CEO at LeaseWorks, said.
With an analytics platform and the ability to integrate with other LeaseWorks products, the Utilization Tracker will facilitate the collection of utilization data for BBAM’s global airline customers and asset groups.
“As a long-time customer, BBAM has been impressed with the functionalities of LeaseWorks’ new Utilization Tracker product. While there are similar offerings in the marketplace, we have found that this product has the differentiated ability to seamlessly integrate into our existing LeaseWorks platform, delivering operating efficiencies,” Vincent Cannon, general counsel and chief operating officer of BBAM, said.
The LeaseWorks team also calibrated the Utilization Tracker with BBAM’s fleet data to demonstrate the product’s capacity to identify specific aircraft that were non-compliant.
“Given BBAM’s need to automate the monitoring of no-fly zones and alerting around this, we are happy to give their compliance teams new tools to make timely decisions about their fleet’s operations,” Vazhayil said.
The Utilization Tracker provides monthly hours, cycles and airport movements data for the global fleet, enabling analytics across any lessor’s portfolio, airline’s fleet, or individually about any aircraft in the world. Lessors can leverage the capabilities of this product with insights into their own fleets and portfolios, to:
- Mitigate Compliance Risks: Up-to-date data on aircraft movements can enable lessors to track and ensure compliance. By avoiding prohibited jurisdictions or regions, lessors can mitigate the risk of regulatory mishaps.
- Access Up-to-Date Monitoring and Mobility: The Utilization Tracker provides lessors with up-to-date utilization data, which is accessible through a digital platform and mobile app, allowing users to monitor their fleet and access analytics on the go.
- Tailor Marketing Strategies: The Utilization Tracker can enable leasing professionals to tailor marketing strategies to specific airlines based on their utilization needs.
- Perform Proactive Maintenance Planning: The Utilization Tracker helps lessors pinpoint potential underreporting by airlines, potentially ensuring accurate estimates of maintenance needs, end-of-lease adjustments and maintenance reserves.
