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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TRAVEL TECHNOLOGY
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.
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TRAVEL TECHNOLOGY,FEATURES AND ADVICE
Airwallex | December 16, 2022
Global fintech Airwallex is pleased to announce that it has been chosen by TripActions as the partner of choice for its global cross-border payments and FX needs to support TripActions Liquid, its corporate card and expense management solution.
With support from Airwallex’s global payments and banking infrastructure, TripActions can further streamline travel and expense management experiences for its customers across 130 markets by providing a seamless, cost-efficient way to convert and pay out funds in over 45 currencies.
“Identifying faster, easier, and safer ways to move and manage money is key for businesses that want to grow at scale. At Airwallex, this is exactly the pain point that we are building a solution for, TripActions is the modern day, all-in-one solution for corporate travel and expense, and we are pleased that we are able to support them and their ambition as they look to grow and expand their business globally.”
-Ravi Adusumilli, Global Head of Partnerships and General Manager, Americas at Airwallex.
TripActions aims to make travel and expense easy, and Airwallex’s vision to deliver better experiences and tech solutions aligns exactly with that goal, said Michael Sindicich, EVP and General Manager of TripActions Liquid. With Airwallex, we are now able to reimburse our customers’ international employees in their local currencies instantly or on the same day in many countries, and we’re excited to continue working together as we bring more innovative features to businesses everywhere.
Founded in Melbourne, Australia in 2015, Airwallex reported significant business growth in the last year, with revenues more than doubling year-over-year. In the US, Airwallex has also built steady traction, having experienced rapid customer growth, and having won “Startup of the Year” in this year’s US Fintech Awards. Today, the business operates with a still-growing team of 1,300 employees in 19 locations across Asia-Pacific, Europe, and North America.
About Airwallex
Airwallex is the leading financial technology platform for modern businesses growing beyond borders. With one of the world’s most powerful payments and banking infrastructure, our technology empowers businesses of all sizes to accept payments, move money globally, and simplify their financial operations in a single platform. Established in 2015 in Melbourne, Australia, our purpose is to connect entrepreneurs, business builders, makers and creators with opportunities in every corner of the world. Today, Airwallex has a global footprint across Asia-Pacific, Europe, and North America.
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