What Happened
Singapore Institute Seeks Collaboration On New Trading System
The Singapore Institute of Aerospace Engineers (SIAE) has announced the launch of a pilot program for a secondary market platform for aviation chemicals, aiming to reduce waste and costs for airlines and maintenance, repair, and overhaul (MRO) companies. The platform, which utilizes AI agents to track expiry dates and facilitate trading, is expected to provide real-time visibility and predictive maintenance capabilities. According to Nicholas Tan, vice president of SIAE, the initiative requires collaboration between airlines, MROs, and other industry stakeholders to achieve its goals. This development was first reported by Aviation Business News.