Honeywell acquires aviation software firm

Singapore

HONEYWELL has acquired privately held aviation software company Aviaso for an undisclosed amount, in a move expected to boost the aerospace firm's portfolio and expand its presence in Europe.

Aviaso's software products collate data on aircraft usage and identify avenues for airlines to save on fuel consumption. A major expense for airlines, jet fuel can account for as much as 40 per cent of an airline's operating costs. Even a single-digit percentage-point improvement can thus translate into tens of millions of dollars in cost savings, said Honeywell.