News Release

Tuvoli air charter booking and payment platform reports strong growth

The Tuvoli air charter booking and payment platform, which launched at the NBAA Convention in Las Vegas this past October, is reporting strong growth with over 90 companies now on board. Companies on the platform include both brokers and operators with more than 600 aircraft now active. Tuvoli is exhibiting at booth 106 of the NBAA Scheduler's and Dispatcher's conference March 10th through 13th in Charlotte, North Carolina.

Tuvoli is an open platform meaning both brokers and operators are welcome to transact on the platform and do not need to have any particular industry affiliation to do so. The platform has no upfront costs or monthly subscription fees, instead it charges a nominal transaction fee to the broker and operator when the two parties confirm a trip using Tuvoli's tools. Contracts are completed via DocuSign and payment is made through Tuvoli's proprietary payment technology.

Tuvoli has made its native mobile app a cornerstone of its product offering. “Business in the air charter industry doesn't stop when you get up from your desk,” says Tuvoli president/CIO Greg Johnson. “People need to be able to search for available aircraft, respond to a request for quote, confirm a trip or make payment from anywhere at any time. The Tuvoli mobile app makes that easy.”

Companies joining the platform establish FDIC insured bank accounts through Tuvoli's global banking partnership. Through these accounts, trips can be paid for instantly between companies 24/7/365. This is a significant improvement compared with paying for a trip with a wire transfer, which is only possible 40 hours/week, an ACH transaction, which can be pulled back for up to six months, or a credit card, with fees averaging 3% or more.

Tuvoli displays over 600 aircraft on its platform from the operators that have activated their accounts to date. In addition, the Tuvoli platform lists all aircraft that are active on a Part 135 certificate with the FAA, using industry data to provide ball-park pricing for aircraft that have not yet joined the platform. Listing all aircraft provides buyers with a complete picture of the US air charter fleet. With no cost until trips are booked, operators have every reason to take advantage of the lead generation and incremental revenue opportunities that Tuvoli's platform provides.

The Tuvoli platform introduces the new concept of a guaranteed payment to the air charter industry. A guaranteed payment is one where the buyer authorises the movement of funds into a trust account once an operator has been selected and terms have been confirmed. The (operator) seller can then see that the funds are guaranteed for the trip. Once the trip is complete the buyer releases the funds and the operator is paid in a matter of minutes.

A guaranteed payment is superior to accepting a credit card as there is final settlement when the buyer releases funds to the operator and the fee is much lower. The operator can rest assured that the funds are available, segregated and ready to be moved as soon as the trip is complete. For the buyer, there is comfort in knowing that if the aircraft becomes unavailable, the funds for the trip can be repurposed instantly to another provider if necessary.

Tuvoli's invoicing and payment features are directly integrated with QuickBooks and the Sage accounting system to streamline accounting workflow for companies on the platform. Invoice line items on Tuvoli can be mapped to specific G/L accounts within an accounting system, making the invoicing process simple and efficient.

Integrations with additional accounting packages are under development.

Powered by direct real-time data feeds from the FAA, Tuvoli has integrated map-based flight tracking into its product core. Dozens of aircraft can be tracked simultaneously from the Tuvoli command centre homepage. Operator aircraft are added to the tracking list automatically when aircraft are added to the operator's fleet inside of Tuvoli. Brokers and operators can add additional aircraft easily from the command centre homepage.

Tuvoli is committed to supporting industry best-practices. The Tuvoli platform provides new levels of efficiency, financial controls that guarantee payment, and a business model that aligns the fees for the platform with revenue earned by companies doing business together. Tuvoli is always looking for feedback on the platform and is hosting two user forums at the Scheduler's and Dispatcher's conference to collaborate with its users on future development.

Tuvoli is one of a handful of companies selected to present at the New Product Showcase within the NBAA Schedulers and Dispatchers conference in Charlotte, North Carolina. Wednesday March 11th between 2:30pm and 3:00pm Tuvoli will present the features and benefits of the Platform to S&D attendees. Demos will be available throughout the show at booth 106.