Airlines Save on Cargo Costs with Web3 Solutions

Airlines can save up to 7% on cargo handling costs using Web3-based solutions, according to a study by Aventus and Airport Perishables Handling (APH) at Heathrow Airport.

The aviation sector faces issues like outdated technologies, last-minute repairs, and sustainability challenges. Blockchain technology can help resolve these problems.

The Aventus study highlights how blockchain can improve traditional ULD (Unit Load Device) management. Since the 1990s, ULD management tools have relied on manual data entry, leading to visibility issues, inaccuracies, and costly losses. These inefficiencies cost airlines over $1.6 billion annually.

“Web3 technology, through blockchain, offers a robust solution by providing immutable, tamper-proof records, automating manual processes with self-executing smart contracts, and enabling real-time visibility into ULD location, custodianship, and condition,” the study states.

In a pilot study at Heathrow, Aventus showcased their blockchain-based cargo handling system. The results showed a 90% drop in communication errors, an 83% reduction in paperwork time, and ULD stock updates were reduced from 3-4 hours to just 30 minutes. Also, loading times decreased by 28% due to improved efficiency.

“These results are truly remarkable, underscoring the transformative potential of blockchain for the aviation industry and global supply chains,” said Alan Vey, Founder of Aventus. “We are empowering enterprises to enhance data accuracy, reduce inefficiencies, and achieve greater transparency.”

Michelle Roosevelt, Director at Aviation Perishables Handling, noted, “Aventus’ technology is fast and responsive…we’ve seen huge improvements in productivity.”

Founded in 2020, Aventus specializes in developing Web3 environments for product activations, combining industry knowledge with enterprise needs while integrating with the Polkadot ecosystem and forming partnerships with major enterprises across Asia and the Middle East.