Data has always played a vital role within the aviation industry. From the personalisation of airfares to launching new routes, airlines have historically relied on a mix of internal and external data sources to provide insight and guidance in their decision-making. Now, the need for data is increasing as airlines must adjust to rapidly changing market conditions and restrictions. But it is not just about having more data; it is about having the right data. By looking at data from diverse sources, including bookable flights and published airfares, airlines can begin to extract value and develop a plan to persevere best. From benchmark airfare data and flight schedules to shopping indicators and online searching behaviours, each source can provide valuable information as carriers begin to ramp-up their operations.
Insight from Market Trends
To this end, Infare has since 22 April 2020 been sharing bi-weekly market trends free of charge to provide a unique outlook on bookable flights and pricing evolution at a macro-level. These insights can help airlines in times of crisis, not only for revenue management teams but also for senior executives when making strategic decisions. The insights are built with a rich sample of bookable airfares being collected by Infare and visualised by our partner Air Cube.
The findings are shared free of charge to airlines around the world through Infare’s website during this particularly challenging situation. Airlines will recover at different speeds and may need to adjust their strategies quickly should a second wave hit. Infare is actively working with airlines and other partners to take advantage of our data, combined with their own, to ultimately help them recover from this crisis and return to profitability.
The use of diverse data in predictive analytics will play a critical part in the future of the travel industry. According to Charles De Gheldere of IATA, the “new normal” of aviation will be quite different going forward and even more data-driven. As government regulations change and travel restrictions cautiously begin to lift, the need for predictive analytics from diverse data sources will only increase. Infare will continue to publish and update the market trends derived by our data for the foreseeable future. By sharing our findings and making our data available to our partners, we hope to support the aviation industry in recovery and stabilisation.
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Each day, Infare collects over 2 billion unique airfares from airlines, online travel agencies and metasearch booking sites. This vast […]Read More ›