OpenLink, the global leader in trading and risk management solutions for the energy, commodities, corporate and financial services industries, today announced that it has entered into a strategic partnership with the International Air Transport Association (IATA).
OpenLink joined the technical fuel group and will champion key insights into best practices around risk, hedging, procurement and treasury, enhancing its ability to identify current trends and key issues for the airline industry to continue to build and implement innovative solutions.
OpenLink went live this year with its eighth airline client, Etihad Airways, and provides integrated fuel management, treasury and foreign exchange hedging solutions to airlines across Europe, the Middle East, Asia and the Americas.
Matt Lehto, OpenLink Senior Vice President, said: “The IATA Strategic Partnerships Program is open to companies that add value and bring benefits to the air transport industry directly and indirectly by means of their services, products and solutions. OpenLink is committed to supporting the airline industry with best practices around fuel management, planning, forecasting, procurement, contract management, logistics, hedging and compliance, providing procurement, treasury and finance teams with a complete view of company-wide inventory and forward commitments when they purchase and hedge.”
The International Air Transport Association is the trade association for the world’s airlines, representing some 265 airlines and 83% of total air traffic. It supports many areas of aviation activity and helps formulate industry policy on critical aviation issues.