Portside launched its private aviation reporting and analytics platform at EBACE on Monday. The San Francisco-based company designed the software as a solution for aircraft owners seeking transparency in reports of their aircraft utilization and performance.
“A number of friends with private aircraft came to us with a problem: their management companies were great at ensuring their planes were always safe and ready to fly but, despite their best endeavors, couldn’t provide clear reports to show aircraft utility and performance," said co-founder and CEO Alek Vernitsky. "We then spoke with hundreds more aircraft owners and it seemed to be a shared concern. With multiple suppliers, vendors, and staff located across the globe, collating data became an epic task that usually resulted in incurring higher costs due to not having the full picture of the aircraft. We set about creating Portside to provide a solution to this problem.”
Portside provides features such as tax reporting, compliance record keeping, multi-owner reporting and analysis, charter analysis, and digitized invoices. Founded in 2017, Portside currently has a number of financial and entertainment clients, 50 percent of them based in the U.S. The platform is designed for business aviation management company use. According to Portside, 70 percent of users operate midsize and heavy jets while the remaining 30 percent fly small and light jets.