Willis Lease Finance Corporation and Key Industry Partners Launch MRO Blockchain Alliance - Seite 2

The MRO Blockchain Alliance will use blockchain technology to record and track two separate strands of information for each aircraft part: a digital thread and a digital passport. The digital thread provides the real-time status, chain of custody and back-to-birth tracing of the part over time. The digital passport – like a human passport – provides the indisputable identity of a part and contains other vital data to prove ownership.

SITA’s role, as a principal air transport community IT provider, will provide governance for the global alliance, support its working groups, deliver all required blockchain technology components compliant with international standards and ensure proper alignment and validation with applicable regulators.

Matthys Serfontein, President of Air Transport Solutions for SITA noted: “This initiative is part of SITA’s ongoing exploration of blockchain, a technology that we believe promises tremendous opportunity for streamlining the sharing and recording of information across the air transport industry.  In an industry as interconnected as ours, the ability to share and record common data in a secure way without giving up control of that data is fundamental to driving new efficiencies in air travel. This is particularly true for the MRO sector.”

The MRO industry processes 25 billion parts every year, while adding three billion new parts each year. There are 20,000 suppliers, covering 144,000 flights every day for an overall industry market representing around $100 billion per year.

The alliance will spend the next six months in a continued planning phase, with the aim of going live with the first proof of concept in the third quarter of 2020.

Willis Lease Finance Corporation

Willis Lease Finance Corporation leases large and regional spare commercial aircraft engines, auxiliary power units and aircraft to airlines, aircraft engine manufacturers and maintenance, repair and overhaul providers in 120 countries. These leasing activities are integrated with engine and aircraft trading, engine lease pools and asset management services supported by cutting edge technology through its subsidiary, Willis Asset Management Limited, as well as various end-of-life solutions for engines and aviation materials provided through its subsidiary, Willis Aeronautical Services, Inc.