LeaseWorks, a provider of cloud-based solutions and services, launched LeaseWorks Utilization Tracker, a new tool within the Aeris MATCH software ecosystem that aids aircraft leasing companies in collecting and analyzing aircraft utilization data from airline customers.

Obtaining and storing accurate data on the utilization of leased aircraft is fundamental to lessors’ ongoing ability to effectively manage aircraft portfolios and optimize leasing operations. Collecting and analyzing such data can be a daunting challenge, particularly in a highly dynamic industry, where lessors and investors are sensitive to accurate reporting on how and where they are flown.

“One of the primary areas that lessors could benefit from is more timely data from airline customers on their aircraft utilization,” Juan Blanco, senior advisor of customer solutions, architecture and technology at LeaseWorks, said. “Collecting and analyzing data has previously been a manual and time-consuming process, yet this information is becoming increasingly important in a highly dynamic industry where lessor risk can be impacted by jurisdictional and operational considerations.”

LeaseWorks Utilization Tracker is designed to facilitate the collection of utilization records from airlines across multiple regions and asset groups. With the platform, lessors can monitor and audit airline utilization reports, compare aircraft usage to fleet and regional trends, and track aircraft movements by country or city to ensure compliance.

“The LeaseWorks team has collaborated with clients to develop and calibrate this bespoke product, so it meets the specific needs of the aviation finance industry, boosting lessors’ ability to make informed and timely decisions about their fleets and portfolios,” Blanco said.

In addition to providing insights into leased fleet usage to tailor lessors’ marketing efforts to specific airlines based on aircraft utilization, the tool is designed to help companies identify underreporting that may impact maintenance, estimated end-of-lease adjustments and maintenance reserves.

“LeaseWorks Utilization Tracker is an essential tool for lessors with an easy-to-use interface and mobile app, enabling lessors’ commercial and asset management teams to access analytics wherever they are and stay informed on the go,” Blanco said.

LeaseWorks will be holding a product release webcast to provide a preview of the LeaseWorks Utilization Tracker and other product developments on April 27 at 11 a.m. EDT.