Pricing strategies play a critical role in the airline industry, as they directly impact an airline’s revenue and profitability. However, setting pricing strategies is a complex process that requires airline pricing and revenue management teams to navigate numerous challenges.
These challenges include balancing the need to generate revenue with the desire to remain competitive, managing capacity and demand, predicting customer behaviour, and responding to changes in the market and industry landscape. Additionally, pricing and revenue management teams must consider the unique characteristics of each route, flight, and customer segment, as well as external factors such as fuel costs, seasonality, and regulatory changes. To address these challenges, intelligence and analytics teams require sophisticated data analytics tools, advanced algorithms, and a deep understanding of customer behaviour and market trends.
Market Trends provides unique insights into historical and current trends in airline pricing, capacity, and revenue with access to global data, helping airlines stay ahead of the game by keeping up with changes.
The product helps gain powerful insights with a unique historical view of prices displayed on airline booking sites and their related trends. Understanding seat capacity trends and flight schedule change ratios is made easy. Obtaining forecast intelligence on key market indicators, such as prices, capacity, load factor and revenues, becomes attainable.