FEATURES AND ADVICE
Air Canada | July 26, 2021
After reporting a bigger quarterly loss on Friday, Air Canada projected higher bookings for domestic and US-bound flights this winter as travel restrictions ease.
Although bookings remain below pre-pandemic levels, Canada's biggest airline predicts slower cash burn as travel resumes.
"We are witnessing steadily increasing bookings for the coming winter in the domestic, trans-border, and Atlantic markets, as well as to sun destinations," CEO Michael Rousseau told analysts. "Future bookings for next winter sun travel during certain weeks in June were ahead of the same time in 2019."
After a 16-month ban due to the pandemic, Canada will allow fully vaccinated US visitors to enter the country beginning August 9.
Air Canada recorded a net cash burn of about C$8 million ($6.36 million) per day for the second quarter, lower than previously projected. However, it anticipates that figure will rise to between C$3 million and C$5 million each day in the third quarter.
Carriers are increasing flying capacity, putting downward pressure on fares in certain areas.
While domestic pricing is more difficult, "the environment is fairly steady" on international routes, according to Chief Commercial Officer Lucie Guillemette, who predicts a fall return in corporate travel.
According to the airline, cargo flights, which were introduced during the pandemic, will become a more significant part of the carrier's future.
Air Canada signed an assistance agreement with the Canadian federal government in April, allowing it to access up to C$5.9 billion in funds.
Rousseau said that the airline would determine whether or not to withdraw from the government's financial facilities later this year.
According to Refinitiv data, Air Canada lost C$3.03 per share excluding items. Analysts predicted a C$2.76 loss on average.
In the fiscal quarter ended June 30, the airline's net loss was C$1.17 billion, or C$3.31 per share, compared to a loss of C$1.75 billion, or C$6.44 per share, a year earlier.
MakeMyTrip | October 18, 2021
MakeMyTrip Limited, India’s leading online travel company, today announced its partnership with Hopper, one of the top travel booking apps for flights, hotels and car rentals, to help travelers save money with personalized recommendations and flexible booking capabilities. Through this partnership, MakeMyTrip aims to further enhance the flight booking experience by boosting its recently launched Price Lock feature. Hopper's Price Freeze technology will power MakeMyTrip’s Price Lock feature and enable customers to lock in flight fares for up to seven days while they are in the process of firming up their travel plans.
Since its launch this year, the feature has seen increased adoption amongst flyers as the need for flexible travel has risen sharply post-pandemic. As travel bounces back, the company hopes to see travelers across India actively opting for and benefitting from Price Lock feature. By partnering with Hopper, MakeMyTrip plans to leverage its Price Freeze technology that has proven to drive conversions and increase revenue while offering transparency and flexibility to its customers.
“Flexibility is the future of travel – it is how we want to build back demand and put consumer confidence back in booking travel freely, just as they did before the pandemic. As we double down in our efforts to enrich the flight booking experience on the MakeMyTrip platform, we are partnering with Hopper to make use of its innovative technology and pass on the benefits of smart and prudent flight booking to travelers. We are thrilled to extend valuable benefits and bring home best global practices of predictive pricing through Hopper’s data-driven capabilities and AI-rich airfare forecasting tools for our customers.”
Rajesh Magow, Co-founder & Group CEO, MakeMyTrip
Expressing excitement at joining hands with MakeMyTrip, Frederic Lalonde, CEO and Co-Founder of Hopper, said, “Consumer expectations have changed over the past year and a half, and flexibility is a make-it or break-it factor for travelers. Hopper’s Price Freeze technology will empower MakeMyTrip customers to plan and book their trips with peace-of-mind. As travel continues to rebound, and even enters a travel supercycle, Hopper Cloud is providing the fintech solutions that drive conversions and revenue.”
With the addition of Hopper’s predictive algorithms and AI-enabled dynamic pricing tools, MakeMyTrip will be able to protect travelers against airfare volatility. By offering an opportunity for users to lock in low fares before they rise, Hopper's Price Freeze algorithms also help solve one of the major dilemmas of travelers – when is the best time to book my trip? Hopper is powering this partnership as part of its B2B initiative, Hopper Cloud.
MakeMyTrip Limited is India's leading online travel company. We own and operate well-recognized online brands, including MakeMyTrip, Goibibo and redBus. Through our primary websites, www.makemytrip.com, www.goibibo.com, www.redbus.in, and mobile platforms, travellers can research, plan and book a wide range of travel services and products in India as well as overseas. Our services and products include air ticketing, hotel and alternative accommodations bookings, holiday planning and packaging, rail ticketing, bus ticketing, car hire and ancillary travel requirements such as facilitating access to third-party travel insurance and visa processing.
Hopper is the world’s fastest-growing mobile-first travel marketplace. By leveraging massive amounts of data and machine learning, the company has developed several unique fintech solutions that help customers save money and travel better. Through its B2B initiative, Hopper Cloud, the company is syndicating its fintech solutions, infrastructure, and agency content. Whether it’s pricing volatility or trip disruptions, Hopper’s proprietary suite of fintech solutions address every pain point in the customer journey while driving conversion, repeat purchases, and profitability.
Amadeus | March 01, 2021
Amadeus and Microsoft today report a worldwide key association that will tackle cloud innovation to improve and investigate new items and arrangements and make smoother travel encounters later on.
The organization will consolidate Microsoft trusted, secure cloud stages and industry-driving joint effort and endeavor advancements with Amadeus' demonstrated skill and development in movement innovation.
Groups from both Microsoft and Amadeus will team up to empower quicker conveyance of new cloud-based arrangements, prompting more consistent travel encounters, for instance in the aircrafts and neighborliness organizations. The two organizations will use the full estimation of Azure and Microsoft's answers (Microsoft Teams, Microsoft 365, Dynamics 365 and Microsoft Power Platform) to convey all the more remarkable and modern end-client encounters and make custom arrangements customized to the exact necessities of the movement business. Starting endeavors are required to zero in on building up more integrated business travel travels and empowering nearer coordinated effort between travel and wellbeing specialists.
“Advances in digital technology are rapidly redefining every aspect of work and life, including how we travel,” said Satya Nadella, CEO, Microsoft. “Together with Amadeus, we will apply the power of Azure and its AI capabilities to create new frictionless experiences for travelers worldwide and reimagine the travel industry going forward.”