From 4 – 6 October, the FareTrack team participated in World Aviation Festival 2022, the leading global event for the airline sector. Located at Amsterdam RAI Center, it attracted 1,000s worldwide attendees looking to explore the future of aviation. With a 3-day conference program and two exhibitions, it was a packed schedule, covering critical areas such as tech, payments, marketing, operations, sustainability, and retail. The first-day conference workshops saw revenue leaders breaking down and analyzing key trends in revenue management and tech. PROS led a fascinating conversation on pricing, revenue…
Revenue management has been commonly practised in the airline industry since the late 1970s to help airlines increase their revenues by managing price and seat availability. The perceived goal of Revenue Management and Pricing is to attempt to sell each seat at the highest possible price. Many complex factors are involved in achieving the goal and affecting the price. Most of them can be grouped into 3C definitions: Capacity – theoretically and on a short-term basis, a route is operated with an aircraft with a fixed capacity. However, in the mid-term,…
Airlines are exposed to more competitive data points than ever before. The plus side of this is that with more competitor intelligence available, they can identify more opportunities for revenue growth. However, the amount of data available presents a significant problem. How do you derive value from vast amounts of unstructured data? Let’s take a look at a few ways business intelligence and visualization helps airline revenue managers secure a competitive advantage. Actionable Insights Many pricing decisions are made either on inaccurate data or assumptions. These are poor foundations for…
Online Travel Agents (OTAs) have a symbiotic relationship with airlines. OTAs help airlines promote and sell their flights, and, in return, OTAs receive a commission. However, as beneficial as this relationship is for both parties, it is not always harmonious. It is not uncommon for OTAs to reduce ticket prices, undercutting the brands in the process. Due to the pandemic, airline brands have suffered dramatic decreases in ticketing. OTA sales have also fallen and they are under pressure to generate revenue. Unfortunately, a portion of OTAs are doing that by…
Murtuza Dhinojwala, is a VP of Aggregate Intelligence, a provider of big data to the global travel industry. When working with airline revenue management teams, supplying them with competitive fare information, schedules, rate parity, and rules insight, Murtuza realized that many carriers need reliable and timely competitive fare insights, yet currently lack the access and resources. Often, they simply do not have the staff to process the overwhelming amount of information. Or have the budget for expensive third-party integrations that come with significant financial obligations. Especially with increasing fare volatility,…
Bringing new visualization and analysis tools for airlines to make it easier to compete within a changing fare management landscape Aggregate Intelligence (AI), the world’s leading data-as-a-service company, has announced the launch of FareTrack (www.faretrack.ai), it’s airline fare analysis solution. AI works with some of the world’s leading airlines in data aggregation and analysis, and FareTrack is a result of years of close collaboration with key customers. FareTrack enables airline pricing managers to visualize, analyze and benchmark future fares against accurate, customer-facing prices. It illustrates fare change opportunities using pricing…
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