Truth about Jet Fuel

Industry Trends

Software programs, "fuel management" companies, web-based technologies, and resellers have emerged over the past several years claiming to lead an operator to the cheapest available fuel price. However, flight departments are discovering that the influx of all these new options has brought some unfortunate consequences:

Many are costing you more time and money rather than saving it.

The fight to win customers has opened the margin for error. Some fuel companies quote one fuel price and then – perhaps due to a lack of quality control – invoice the fuel at a rate much higher. Even worse, some promise an unbeatable fuel price than purposely bill at a much higher rate.

Whether on purpose or accidental, the result is the same - flight departments are wasting valuable resources on mismanaged invoices and unreliable fuel quotes.

Costs of invoice mismanagement

Overbilling

Invoices off by as little as a nickel per gallon add up to thousands of lost dollars per aircraft over the course of a year.

Wasted Time

Operators have much more important things to do than spend hours trying to detect and correct overbilling errors. Three hours per week spent rectifying errors adds to almost a full month's worth of lost time every year.

Billing delays

Valuable time goes to waste when inaccurate invoices must undergo correction and resolution; flight departments must deal with the headaches of being unable to close out a trip or finalize the books for a particular month.

Unreliable service

Companies that fail to invoice clients properly are likely to be the same ones that are unable to provide quality service in other areas.

Reporting

Suppliers that play games with invoices are often unwilling to provide specialized fuel reports, valuable resources to many flight departments.

Missing opportunities

Aircraft operators end up missing the real best fuel price by believing in a "better" from an unreliable company.

The Solution

How can an operator avoid deceptive quotes and invoicing pitfalls before the damage is done? Work with trustworthy suppliers.

Here is what to look for:

Demand honest quotes

Talk directly to suppliers to make sure quotes include all the same elements needed for price comparison (i.e. are prices with or without all taxes and fees?). Reputable suppliers will automatically include accurate volume price breaks. Ensure that quotes reflect current pricing and be wary of expired quotes.

Require prompt and accurate bills

Look for suppliers who can deliver invoices exactly as needed and will make them easily accessible. You should be able to close your books quickly. Avoid companies that consistently delay in remitting a correct invoice.

Seek quality customer service

Companies that treat your flight department like another number should be avoided. Building relationships with actual people offers advantages that ultimately save time and money.

Ensure high returns on your investments

Operators who use a software program to help find the best fuel price should make sure it is compiling prices only from dependable companies. The value of a program diminishes if it delivers misleading or erroneous quotes.

Proven Reliability

One of aviation's most respected independent auditors, ARG/US International, recently conducted an extensive audit that found Colt International to be trustworthy and dependable. ARG/US studied Colt's fuel quotes and invoices and found that more than 99.1% of Colt fuel invoices are billed correctly the first time.

These findings have massive implication for aircraft operators. For the thousands of flight departments who have chosen Colt as their fuel supplier of choice, their decision has been validated. For those who still struggle with wasted dollars and time lost due to mismanaged invoices, a verifiable solution exists, enabling greater efficiency and profitability.

Colt quotes fuel accurately, delivers as promised, and invoices quickly and correctly. Colt's online services deliver reliable quotes, provide access to past invoices, and make it easy to arrange fuel at more than 3,000 airports around the world. Quite simply, Colt International is transforming the entire fuel-purchasing process by making it more accessible and transparent.

Colt understands that being accountable and dependable in handling mistakes is every bit as critical to providing high-quality service as properly delivering quotes and invoices. While other companies may take weeks or even months to rectify an inaccurate invoice, Colt remits corrected invoices to customers within 48 hours in virtually all cases.

Conclusion

Colt recommends that flight departments take thirty minutes and conduct their own research on which fuel suppliers are dependable. Pull your last twenty invoices from each supplier and check them against the fuel quotes. The results astonish most operators.

By weeding out and avoiding less reputable fuel companies, flight departments can inch closer to their fullest potential and save thousands of dollars and countless hours.

More than 4,000 flight departments have chosen to fight back against overbilling and other forms of invoice mismanagement by getting accurate quotes and invoices from Colt International. This reliability is precisely why the Colt Card is now carried by more pilots and trust by more flight departments than any other contract fuel supplier in the world.

To learn more about how Colt International is empowering flight departments to regain control of the fuel purchasing process, please call us at (281) 280-2100 or email marketing@coltinternational.com.