Our CEO Dan White will be speaking at the ICAO Stocktaking Seminar on reducing aviation CO2 emissions, discussing our work improving fuel efficiency by changing behavior. The event is open to registration from the public for interested parties.
COVID-19 clearly poses a formidable challenge to the aviation industry. The International Air Transport Association (IATA) estimates that airlines will lose $84.3 billion in revenue this year alone, and there is every chance that disruption will continue for a number of years into the future as the economic consequences of the initial shock play out. At the same time, it opens a significant opportunity for Signol as a business positioned to do good.
It must be remembered that before January the primary challenge facing the industry was how to reduce carbon emissions in a timely and financially sustainable way. The world is rapidly running out of time to limit warming to 1.5c or lower, and any rise in global temperatures exceeding this risks catastrophic outcomes for large parts of the human population.
We believe that it is possible to combat both issues at once. Our software platform, Signol, uses behavioral science and machine learning to nudge pilots into making significant fuel reductions (of the order of 1%). An early stage trial in 2016 found fuel savings worth approximately $27,000 per captain enrolled annually, with corresponding reductions in CO2 emissions. What’s more, we’ve also shown that there are gains to be made for the pilots and users, through improved job satisfaction and personalized data interaction.
Added across an airline, these translate into large reductions in both fuel spend and emissions. For an aviation sector struggling to balance a return to profitability with reducing its environmental impact, this is an ideal combination: fighting climate change by reducing operational inefficiencies offers the opportunity to do the right thing while improving the bottom line, without investing in risky new technologies or requiring significant capital outlay.
"For an aviation sector struggling to balance a return to profitability with reducing its environmental impact, this is an ideal combination: fighting climate change by reducing operational inefficiencies."
Along other hot topics in the industry, Dan will offer insights into our cost-efficient technology joining the discussion with the other speakers on the Air Operation panel on 9th September.
We invite all the airlines interested in reducing their operating costs and environmental impact to attend the online "Stocktaking Seminar on aviation in-sector CO₂ emissions reductions" by registering here (check out the full agenda).
Top image source: Robert Hrovat
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Signol is a software platform that draws on insights from behavioral economics to encourage employees to make more efficient decisions. Signol provides personalized feedback through multiple communication channels, as well as data analysis for managers. In aviation, Signol aims to use behavioral "nudges" and incentives to reduce pollution and fuel waste and cut operating costs.