The COVID-19 pandemic potentially leading to greater digitalization in the commercial aftermarket long-term has led to companies beefing up their digital offerings. One of these is Honeywell, which has added a new leasing option to the GoTrade Direct e-commerce parts trading platform it launched in late 2018.
The trading platform, which uses new technologies such as blockchain to list new and used aircraft parts, will initially roll out its leasing inventory feature on the Honeywell Engine and APU Rental Bank areas. The new leasing inventory listing feature allows registered sellers on the platform to offer products under a lease option — providing loaner or rental aircraft parts online to the buyers.
Lisa Butters, general manager of GoTrade Direct, says due to the novel coronavirus leading to many airlines becoming financially challenged in areas such as liquidity, the leasing option was delivered to enable them to conserve cash without making a full purchase of a component.
“It also ensures aircraft readiness with the needed parts,” Butters says. “The pandemic is catalyzing digital transformation, and we believe airlines will continue to take advantage of this digital platform as the travel industry recovers.”
Since its December 2018 unveiling, Honeywell says the platform has amassed more than 7,000 registered users and generated sales in excess of $8 million worldwide from airline, air transport and business aviation customers.
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