Tag: Airline Revenue Management

Navigating Screen Bias: A Must-Read Guide for Airline Revenue Management

FareTrack
Screen Bias for Airline Revenue Management,

Understanding and managing “screen bias” is crucial for airline revenue management. Our latest eBook delves deep into the evolution of this concept, from the era of Computer Reservation Systems (CRS) to today’s digital realm dominated by Online Travel Agencies (OTAs) and Metasearch engines. The Origins of Screen Bias: From CRS to Modern OTAs Originally rooted in CRS, screen bias was a tactic used by airlines to prioritize their flights over competitors’, significantly influencing booking decisions. Today, this dynamic persists in the digital era but with more intricate mechanisms involving search…

Navigating Screen Bias: A Must-Read Guide for Airline Revenue Management

FareTrack
eBook

Understanding and managing “screen bias” is crucial for airline revenue mangement. Our latest eBook delves deep into the evolution of this concept, from the era of Computer Reservation Systems (CRS) to today’s digital realm dominated by Online Travel Agencies (OTAs) and Metasearch engines. The Origins of Screen Bias: From CRS to Modern OTAs Originally rooted in CRS, screen bias was a tactic used by airlines to prioritize their flights over competitors’, significantly influencing booking decisions. Today, this dynamic persists in the digital era but with more intricate mechanisms involving search…

How FareTrack is Helping Small and Start-Up Airlines Meet the Challenges of Modern Revenue Management

Murtuza Firoz, VP APAC, FareTrack
FareTrack helping to start-up airlines

In the dynamic world of air travel, small and start-up airlines face unique challenges that demand innovative solutions. With markets characterized by intense competition, dynamic conditions, and the constant need to monitor competitors, modern airline revenue managers are acutely aware of the importance of effective data-driven strategies. Many smaller and start-up airlines are recognizing now that the way they have used data in the past must be adapted to meet the needs of a modern market, changing customer demands, and even fiercer competition. For many airlines, the traditional approaches to…

Introduction to Airline Ancillary Revenue

FareTrack
Ebook

Find out how airlines are leveraging it to develop better revenue management strategies and how it is evolving to shape the future of air travel. “In recent decades, ancillary revenue has transitioned from a peripheral element in airline economics to a fundamental cornerstone of pricing strategies. Anticipated to experience explosive growth in the future, it is poised to become a transformative trend in the realm of air travel.” Ancillaries have transcended their status as mere “add-ons” and now stand as a pivotal element in the revenue management strategies adopted by…

Insights from the World Aviation Festival 2023: Trends Shaping the Future of the Airline Industry

FareTrack
Aviation Festival

The World Aviation Festival brought together aviation industry leaders, innovators, and experts from around the globe. Our company, Faretrack, had the privilege of participating and connecting with numerous interesting people, prospects, customers, and even competitors. Among the wealth of information and discussions, three key trends emerged that are set to transform the air travel industry. Trend 1: Measuring Customer Willingness to Pay for Ancillary Products In the dynamic world of airline revenue management, understanding customer preferences and willingness to pay for various products has become a pivotal focus. Ancillary revenues, which encompass…

Decoding Pricing Behavior: A Comparative Analysis of Low-Cost Carriers and Full-Service Airlines

FareTrack
Decoding pricing behavior

Using FareTrack’s pricing behavioral analysis solution Optimize, we recently decided to take a look at two pricing approaches for a Low Cost Carrier (LCC) and a full service airline, to understand pricing dynamics and volatility, and crucially the impact this has on competitor fare extraction schedules. For the comparison, we used a popular route Las Vegas to Atlanta and took a look at pricing volatility over 180 days out from departure. Unsurprisingly, this analysis has unveiled a stark contrast in the pricing philosophies adopted by these two players. The LCC,…

When it comes to data visualization flexibility isn’t just a “nice to have”, it’s essential

FareTrack
Tableau

Data visualization flexibility is not just a luxury; it is a necessity, especially in the ever-evolving airline industry. With the introduction of NDC, increasing use of AI and Machine Learning, and other fundamental changes, the way airlines use and visualize data must undergo a transformation as well. While standardized graphs and reports have been the norm for many airlines when comparing fares against competitors, they fall short in capturing the complete story, particularly in dynamic market conditions. Consider this scenario: your current data supplier provides competitor pricing information for a…

The Impact of Events on Airline Revenue Management: Why a Comprehensive Event Database Matters!

FareTrack
Impact of events

Events have a powerful influence on the demand for airline travel. From concerts and sporting events to conferences and festivals, these gatherings draw in travelers from near and far, significantly affecting flight bookings. That’s why having a complete, accurate and up-to-date database of events is a game-changer for airlines looking to maximize revenue management strategies. Fueling High Demand: Major events act as catalysts for increased air travel demand. Attendees from different cities and countries converge to participate, creating a surge in bookings during event dates. Airlines need to anticipate these…

FareTrack Revolutionizes Airline Data Intelligence with Optimize: A Groundbreaking Approach to Competitor Behavior Analysis

FareTrack
Product Lunch

FareTrack, the leading data intelligence provider for modern airlines, has unveiled its latest innovation: Optimize, a cutting-edge behavioral analysis tool. This ground-breaking solution is set to transform airline fare strategies by providing in-depth insights into airline competitors’ pricing behavior. Unlike any tool currently available in the market, Optimize leverages its advanced technology to analyze millions of data points, empowering airline revenue and pricing teams with unprecedented visibility into their competitors’ pricing behavior. By tracking and monitoring competitor pricing behavior, Optimize equips airlines with the ability to anticipate the probability of…

Revolutionizing Airfare Analytics at Aviation Festival Americas

FareTrack
Revolutionizing Airfare

The second week of May 2023 marked FareTrack’s debut at the Aviation Festival Americas, held in Miami, Florida. The event, aptly themed “New Technologies. New Strategies. New Beginnings” for the Americas Aviation Industry, proved to be an ideal platform for our team. The discussions we engaged in at our booth perfectly aligned with not just the theme of the event, but FareTrack’s vision of revolutionizing fare analytics and optimization for the modern airline too. Throughout the two-day event, we welcomed a steady stream of airlines and technology companies to our…