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.
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DESTINATION AND TOURISM, INDUSTRY OUTLOOK
Travelex Insurance Services | January 17, 2023
Travelex Insurance Services, one of the leading U.S. travel insurance companies, and Collette Travel Service, Inc., an award-winning premium tour operator, have announced a partnership that will allow Collette to offer Travelex travel insurance products and services starting January 3, 2023.
Jaclyn Leibl-Cote, President and Chief Brand Officer at Collette, expressed, "We're excited for this opportunity to provide our travelers with some of the industry's best insurance plans and services." She further stated, "Travelex's quality insurance products, superb customer service record and claims payment history convinced us to partner with them. We think our clients will be very happy with Travelex's offerings."
(Source- PR Newswire)
Travelex President and CEO Shannon Lofdahl shared that her company has collaborated with Collette for months to develop and roll out comprehensive travel protection policies for its clients. She remarked, "Our teams worked together to complete implementation and agent training for the launch. "We're ready to serve Collette's travelers as they explore the world,” Shannon Lofdahl concluded.
(Source- PR Newswire)
About Travelex
For over 25 years,Travelex Insurance Services has been the go-to for reliable and affordable travel protection in the United States. It is a well-known collaborator in the tourism sector, offering services that enable vacationers to make and safeguard memories. Customer service, technology, and innovation are just some of the categories in which Travelex has been recognized as a market leader.
About Collette
Collette, the oldest tour operator in North America, is trusted by visitors. It is distinguished by its customizable tour pacing, ties to the travel industry, and full travel protection coverage. The organization has focused on customer satisfaction since 1918 and offers 160 journeys to all seven continents via five types of travel, including small group tours and river cruises. The company's headquarters are located in Pawtucket, Rhode Island, with divisions in the United Kingdom, Canada, and Australia.
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TRAVEL TECHNOLOGY
SUNRATE | January 10, 2023
SUNRATE, recognized as a leading financial solutions provider, collaborated with Visa, a world leader in digital payments. The partnership is to enhance the travel solutions offered by SUNRATE.
In the past, SUNRATE's stakeholders had only one way to pay for travel-related expenses with their travel partners. Now with the partnership, they will have a virtual corporate card that makes this process much easier and more streamlined.
SUNRATE, at the end of last year, shared news of a strategic alliance with Agoda, the world's largest online travel agency. In 2021, the company was accepted into the Visa network as a primary participant.
SUNRATE’S corporate cards will help its travel partners to have control over spending track and allocations. In addition, a corporate card will ensure the security of the transactions and the data for the users. Technologies like Application Programming Interfaces (APIs) have made it difficult for shared card information to be misused by imposing a time limit on each transaction.
The Payment Card Industry Data Security Standard (PCI DSS) Level 1 is an international standard for financial data security. SUNRATE has been certified to meet this standard.
"The launch of Visa virtual corporate cards is a monumental step for SUNRATE as we cement our leadership as a one-stop B2B payment partner, especially for the travel industry. Since our partnership announcement with Agoda, we have worked with many other travel stakeholders, including other OTAs and we take pride in being able to solve their overall business needs. The Visa virtual corporate card will be a key solution for our customers and beyond,"
-Shawn Qin, Head of Card Business, SUNRATE.
(Source: Cision)
About SUNRATE
SUNRATE is an advanced global payment and treasury management platform for international businesses. Having global headquarters in Singapore and offices in China, Indonesia, Japan, and the United Kingdom, SUNRATE collaborates with Citibank, Standard Chartered, and Barclays and is the leading member of MasterCard and Visa. The company has facilitated local and global growth for over 130 firms since its establishment in 2016.
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