• Thu. Aug 4th, 2022

Mitigating Airline Industry Jet Lag – Sponsored Content

ByKimberly A. Brochu

Jun 28, 2022

The airline industry is in trouble. The Covid-19 pandemic, with its travel restrictions and closures, has left many aspects of the sector in shambles. Carriers and airports are looking to bounce back as people return to air travel, feverishly hiring staff to replace thousands of laid-off people and revising schedules to meet demand. The results so far have been disastrous for airlines and passengers.

Delays and cancellations have now become commonplace, if not the norm. From June 14 to 23, US airlines alone canceled more than 8,700 flights, and nearly a quarter of those that remained were delayed by an average of 55 minutes. Amidst this chaos, the industry continues to use decades-old practices and technologies.

That’s not the way people want to fly.

On June 30, OurCrowd will host “Investing in Airline Industry Jet Lag Solutions” online, where a panel of top experts will discuss how innovation can help the aviation industry recover. rails. Guests include SeeTrue CEO Assaf Frenkel, Freightos CEO Zvi Schreiber, IntelAct CEO Udi Segall, and IBM Digital Transformation Executive Advisor Melissa Drew.

Turning a passenger plane from landing to takeoff requires 360 separate tasks, from refueling to baggage handling. Even before the recent spike in fuel and wage costs, every minute on the ground costs an airline $64, representing annual turnaround costs of $62 billion, plus $20 billion for flight delays and $8 billion more for tarmac collisions.

airport management

IntelAct uses artificial intelligence to monitor existing airport video feeds to identify bottlenecks and streamline the process. The company has just signed a contract with Indra, a multi-billion dollar supplier of airport management systems worldwide, integrating Intelact’s technology into Indra’s platform.

“People are seeing that the status quo we had before the pandemic when it comes to the aviation industry is not sustainable, both for operational efficiency and also from a climate perspective,” says Udi Segall, CEO of IntelAct, which now funds OurCrowd. Platform. “Our partnership with Indra is a step in the right direction. We offer airlines, airports and ground handling operations a multi-billion dollar proposition. The room for improvement is huge. »

“Airports are overwhelmed by the number of passengers,” says Segall. Technology can play an important role by automating many steps. The industry’s eagerness to adopt new technologies due to the current situation will accelerate the pace of innovation in the aviation industry for years to come.

“IntellAct, in collaboration with Indra, provides industry with exactly what it needs to power it more sustainably,” he said.

Security filtering.

Since 9/11, airports around the world have tightened security, but screening passengers and baggage is time-consuming and not always accurate. SeeTrue leverages AI and computer vision to completely revolutionize security screening, increasing passenger throughput by 30%, shortening security lines and reducing operational costs.

SeeTrue recently signed a collaboration with US security technology manufacturer IDSS that will see its artificial intelligence technology integrated into advanced CT scanners, certified by the Transportation Security Administration and the European Civil Aviation Conference for the detection of explosives.

Freightos has created a revolutionary online freight and shipping marketplace ready to tackle the global supply chain crisis. Its WebCargo platform makes shipping freight similar to booking an airline ticket online, freeing the freight industry from phone calls and email bookings. WebCargo partners include Lufthansa, Air France-KLM, IAG Cargo, SAS Cargo, Etihad, AirBridgeCargo, Qatar Airways and TAP Air Portugal.

Freightos plans to go public on the Nasdaq through a SPAC merger deal with Gesher Acquisition Corp. for a valuation of $435 million.

Investing in Solutions to the Airline Industry’s Jet Lag will air online Thursday, June 30 at 7 p.m. Israel time. register here