AviLabs secures €8M to reduce airline passenger disruption

Iceland-based Frumtak Ventures has led an €8 million investment in AviLabs whose technology, Plan3, is redefining how airlines handle these challenges.

AviLabs is the creator of Plan3 – the leading technology in passenger disruption management that allows airlines to personalise and automate solutions for passengers when disruptions occur.Frumtak Ventures is an early-stage venture capital firm headquartered in Reykjavik, Iceland.

Airline disruptions cause an estimated €60 billion in operational costs and negative press each year.

With their recent successful launch of airline industry summit, Grounded – where more than 30 airlines (representing 20% of the world’s passengers) convened in Reykjavik for two days of discussions, workshops, and networking – Plan3 continues to cement their position as the industry authority on passenger disruption management and a trusted partner
for airlines globally.

"The aviation industry is at a crossroads with legacy systems ripe for digital transformation, and Plan3 is perfectly poised to become a category leader in reshaping how airlines manage disruption and improve their bottom line. We believe their technology will not only transform the passenger experience but will also drive operational efficiency and cost savings across the sector." said Andri Heiðar Kristinsson, General Partner at Frumtak Ventures.

Founding partner Sigurdur Arnljotsson added: "Our continued investment in AviLabs is a testament to their strategic vision and the tangible results they’ve delivered in a short span. The future of airline disruption management is in automation and personalization, and Plan3 is leading that charge."

“We’re delighted with this investment. Every airline is looking for effective solutions to mitigate the impact of disruptions – delays, missed connections, cancellations – on the passenger experience that are both efficient and economical. Plan3 is that solution, and we’re thankful to VCs Frumtak and Brunnur for partnering with us, recognizing the need and opportunity in the aviation industry right now.” commented Sveinn Akerlie, Founder and CEO, Plan3

Photo by Richard R. Schünemann on Unsplash