Swiss-based financial management technologist MySky recently opened an office in Dubai as business aviation activity is increasing in the region and its partnerships and services continue to expand. MySky originally launched as an online audit platform for aircraft management companies and since has evolved as a provider of multiple cost and revenue management services for aircraft owners, buyers, management companies, and flight departments.
Christopher Marich, global strategy director and co-founder, said MySky’s new office enables it to capitalize on the growing market, noting activity has particularly picked up in the past year. At the same time, he said having a Middle East presence will bring it closer to its customers and open the door to potential partnerships as it seeks to enhance its services, technologies, and distribution channels. In fact, MySky leadership is attending the MEBAA Show this week as the company looks to further these opportunities.
“Dubai is a very dynamic place,” he said, calling the expansion there a “big move.” Founded in 2016 in Geneva, MySky originally extended its reach toward North America with an office in New York and more recently an office in Guadalajara, Mexico.
But the move towards Dubai provides it with an anchor that allows it to spread eastward toward Asia. The office already staffs 30 people locally and Marich anticipates that to double over the next year.
Meanwhile, over the past year the company has added more features to its AI-driven expense management product MySky Spend, which automates financial processes. These updates included a redesigned user interface and calendar, enhanced access to financial information, and an analytics page.
It further integrated MySky Spend with MySky Quote, which is designed to provide accurate pricing for charters, and MySky Budget, which offers financial planning using actual cost data and budget optimization. More recently, it unveiled MySky Tax, which can be integrated with a customer’s flight operations software.
These initiatives come as MySky moves toward more predictive services that provide options such as dynamic pricing for charter operators and serial-specific maintenance forecasting. Dynamic pricing is something that scheduled commercial carriers, hotels, and other entities have had access to for some time, Marich said. He explained that this capability enables operators to optimize their pricing with an accurate assessment based on a variety of data points ranging from cost of operation, demand of services, seasonality, and even interest a trip is attracting.
Not all operators will opt for dynamic pricing, he added, pointing to some operators that may have certain pricing agreements with the aircraft owners. But it is one of several initiatives to enable MySky’s clients to better plan for their operations.