AIRLINES AND AIRPORTS, INDUSTRY OUTLOOK
FLYR Labs | January 30, 2023
FLYR Labs, an Artificial Intelligence (AI)-driven forecasting, pricing, and commercial-wide decision-making solutions provider, recently partnered with Brazilian airline Azul to implement FLYR's advanced AI technologies. The technologies will enhance the airline's revenue management strategy, beginning with fare bundles and ancillary product optimization, addressing the growing customer demands.
FLYR will provide Azul with comprehensive pricing, data management, and forecasting capabilities that enable personalized offers for customers to assist the airline in achieving its goal of allowing total revenue management and dynamic offer optimization.
Azul's primary source of profit is the sale of ancillary products such as priority boarding, seat selection, luggage, and fare families. The AI-based Revenue Optimization solution offered by FLYR combines all available historical and real-time data with deep learning algorithms to determine the ideal pricing and distribution strategy.
The solution from FLYR will enable Azul to provide real-time prices for each customer's shopping request or as a scheduled continuous price. This allows the airline to provide travelers with the right ancillaries at the perfect price, with little change to the present shopping infrastructure. It also predicts anticipated revenues for each flight, all within an intuitive user interface.
Since its start in 2008, Azul has been the fastest-growing airline in Brazil, and it now has the country's largest airline network in terms of cities served, with flights to over 150 destinations. Alex Mans, Founder and CEO of FLYR, commented, "We're excited to partner with Azul and harness the power of AI to improve their revenue management and offerings for customers." He added, "The limitations of legacy technology mean airlines have historically struggled to understand how changes in fares can affect ancillary revenues. Through our partnership, we will provide Azul with a crucial competitive advantage when it comes to boosting profitability and enhancing the customer experience."
(Source – GlobeNewswire)
About FLYR Labs
Based in Santa Monica (California), FLYR Labs provides airlines with the intelligence and insight they need to make the best-informed decisions through its proprietary Revenue Operating System. Its vertically integrated platform combines data, forecasting, reporting, pricing, and simulation capabilities into a "single pane of glass" that informs and automates all commercial functions. The company solves complex problems with brilliantly engineered solutions that rely on end-to-end Managed Data Infrastructure and deep learning (AI) to assist leading airlines worldwide in achieving their full potential.
DESTINATION AND TOURISM, COMMERCIAL TRAVEL
KAYAK | January 27, 2023
KAYAK, the leading search engine for travel, recently announced that it has partnered with Affirm, a payment network, to make its payment operations flexible and to empower its travelers in the United States.
According to KAYAK search data, flight prices are rising by about 40% per year. Despite increased flight prices, travelers are still searching for flight bookings in 2023. With Affirm, KAYAK is making it easier for travelers to plan and pay for their trips this year. Now, approved KAYAK travelers can split the cost of flights, hotels, car rentals, and car sharing over $150 into monthly payments by choosing Affirm when they check out. Thus, KAYAK can reach 15 million of Affirm's consumers and 245,000 merchants, including American Airlines, Priceline, Vrbo, Vacasa, and more thereby, enhancing its new reach, overall sales, repurchase rates, and average order value.
Paul Jacobs, General Manager and Vice President of KAYAK North America, says, "It's good to have choices, especially in this economy. In addition to showing travelers all their options on KAYAK, Affirm gives travelers the ability to plan how they pay."
(Source – Business Wire)
Geoffrey Kott, Chief Revenue Officer at Affirm, remarks, "This past fall, Affirm's consumers increased purchases at airlines over seven times compared to the prior year, demonstrating higher consumer demand for payment flexibility when booking travel." He adds, "By partnering with KAYAK, we are able to bring consumers a flexible and transparent way to pay for travel, especially at a time when many are looking for ways to regain financial control and spending power amidst rising costs."
(Source – Business Wire)
KAYAK is part of Booking Holdings Inc, one of the world's most prominent search engines for travel. It helps people find the vacation package, hotel, rental or shared car, and flights they want. The company enables travelers to search for the best flight deals and book with flexibility, as it's pretty reliable and completely free to use. With trip planning tools like a flight tracker, trip planner, and bag measure, KAYAK ensures that travelers' overall experience is more than just a flight search site!
Mondee | January 31, 2023
On January 30, 2023, Mondee Holdings Inc., a next-generation marketplace driven by technology that enables growth in a $1 trillion sector of the travel market, introduced an innovative affiliate program named Mondee Affiliate Network.
As the travel industry recovers from the pandemic's impact, Mondee acknowledges the need for a new approach to assist travel affiliates, agencies, and experts in resolving their growth challenges. The Mondee Affiliate Network is a unique program created to help gig workers, travel experts, and agencies thrive in the flourishing experiential travel market.
Driven by Mondee's advanced technology, the program offers affiliates an exclusive arrangement with enhanced revenue opportunities and tools to expand their product line-up, increase profitability, and remain competitive in an ever-changing market. In addition, this model benefits suppliers, experts, and travelers. Suppliers will receive efficient management for closed user group content and targeted distribution. At the same time, experts and travelers will gain exclusive access to a broader range of products and improved revenue opportunities on travel content such as hotel stays, airfare, and ancillaries.
Prasad Gundumogula, Chairman, CEO, and Founder at Mondee, shared, "We are excited to introduce the Mondee Affiliate Network, a cost-effective solution for travel agencies, experts and affiliates looking to recover from the pandemic and become more competitive in the ever-changing market." He added, "The program creates an exclusive relationship between Mondee and its customers, accelerates Mondee's market share penetration immediately into the air and hotel industries and positions the company as a leading provider of complete travel content and experiences to travel agents and affiliate groups globally."
(Source – GlobeNewswire)
About Mondee Holdings, Inc.
Founded in 2011 and headquartered in Austin (Texas), Mondee Holdings, Inc. is a group of notable travel service, technology, and content companies bringing disruptive innovation to the leisure, corporate, and retail travel markets. It provides a groundbreaking technology platform of mobile, SaaS, and cloud products and services to a global customer base, handling over 50 million daily searches and billions of dollars in transactional volume each year. Its network includes more than 50,000 gig economy workers and leisure travel advisors, 500+ airlines, and over one million vacation rentals and hotels.