SkySelect has announced the extension of its contract with its strategic customer Magnetic MRO, a global provider of EASA, FAA and CAAC-certified Total Technical Care and Asset Management solutions. Together, the two companies are unlocking tangible cost savings in aircraft maintenance through a fully integrated supply chain of aircraft parts on top of world-class expertise and customer service.

?SkySelect is a long-time partner of ours because of their unique ability to provide both technical innovation and unrivalled customer support,? saidÿKaarle Karp, Head of Supply Chain at Magnetic MRO.

?We are in the 21st century and we are used to having access to info in real-time. But for aircraft material, it?s not the case, we are still buying parts as we did 30 years ago. With its unique technology-enabled approach SkySelect can process thousands of part requirements 24/7 to deliver meaningful savings of 20% or more with a fully automated ordering process.?

More specifically, SkySelect acts as an extended purchasing arm to airlines and MROs. They empower people with technology and algorithms to do the work of matching real-time demand from buyers with supply. The process scales up and down automatically depending on demand.

?The opportunity has never been greater to save on aircraft material. There is an abundance of excess inventory available today, arguably, more than during any other prior period in commercial aviation history,? saidÿErkki Brakmann, CEO and Founder. ?However, best deals and savings will not wait and are often passed up because hunting for such deals is labour-intensive, requiring knowledge, data and managing more suppliers.?

?As airlines cut costs and reduce staff, they are forced to do more with less, which only worsens the already existing operational inefficiencies,? said Erkki Brakmann.