Twelve major airlines and aerospace manufacturers have unveiled Cordiem, the business-to-business online exchange formed by the merger of two buyer- and supplier-led ventures.
Cordiem — which means ‘central to the day’ — brings together the firms previously involved in MyAircraft.com and AirNewco.
The former was set up early last year by three major suppliers to the aviation industry — United Technologies, Honeywell International and Goodrich.
Simultaneously, nine airlines including British Airways, Delta, Air France and American Airlines were working on AirNewco, their own internet marketplace.Last October the two ventures said they wanted to combine to form an exchange open to buyers and suppliers across the industry’s $500bn supply chain.
Cordiem has now been registered as a company in Washington, with offices also planned for Europe and Asia.
The exchange will provide an online trading platform for engineering and maintenance services, fuel, cabin services and airport support. It will roll out e-procurement and supply chain management tools from the second quarter of the year.
Cordiem promises industry a ‘level playing field’ where suppliers and buyers can share the benefits of online trading.
Suppliers tend to mistrust exchanges dominated by manufacturers as little more than a high-tech device to drive down their own margins. Cordiem hopes to address such concerns by having advisory councils representing both sides.
The first 11 members of the airline advisory council have been named. They includeBritannia, Aer Lingus and South African Airways.