The International carrier will be able to flex joint purchasing power by using Aeroxchange to trade airframe, avionics and engine components, and maintenance services.
SINGAPORE, July 24 Asia Pulse - Singapore Airlines says it has joined 12 other airlines to create the industry's largest business-to-business e-commerce exchange to be called Aeroxchange.
The exchange, to be officially launched in the next few months, is estimated to be in a position to handle more than US$45 billion annually of the 13 airlines' current purchases of goods and services excluding aircraft and fuel, said an SIA statement.
Besides SIA, the exchange's partners are Air Canada, All Nippon Airways, America West, Cathay Pacific, FedEx Express, Japan Airlines, Lufthansa, Northwest Airlines, Scandinavian Airlines, Air New Zealand, Austrian Airlines and KLM.
"Through this e-commerce collaboration we can use our joint purchasing power to make cost savings through reductions in process and inventory," said SIA deputy chairman and chief executive officer Cheong Choong Kong. Airframe, avionics and engine components, and maintenance services along with a wide range of general goods and services will be traded through the exchange.