Helping One of India’s Largest Low Cost Airline Drive Profitability Learn how the Airline leveraged the power of real-time intelligence and continued to deliver the best prices to it’s customers.With RateGain, the Airline achieved the following: Real-time pricing from more sources Easy access to on-time reports Improved data sufficiency Improved time to market Download Now
Post Covid-19 pandemic, businesses across the world are on a recovery curve. The travel and tourism industry is already witnessing improved demand compared to the previous years. However, complete recovery is still some time away. According to a global survey conducted by the UNWTO in January 2022, most experts feel that the recovery to pre-pandemic levels is likely only after 2024 or beyond. Such being the case, the traditional forecasting methods of relying purely on historical data points to map future demand will become grossly insufficient.
RateGain, a provider of SaaS solutions for travel and hospitality, announced a new update to AirGain, its dedicated pricing intelligence platform for Airlines. The latest update will help airlines get granular insights on their competitors’ historical airfare and indicate fare deviation between two dates for a period of upto 12 months.
Ever since the launch of the upgraded AirGain 2.0, we have been constantly making improvements by adding the features that can help airline revenue managers take faster and more accurate decisions in the new normal.
The airline sector by itself is challenging, and the pandemic just made it more so. Leading airlines are plagued by steep reductions in occupancy levels, fluctuating demand, and the absence of solid, reliable historical data to back pricing decisions.
In every conversation with a customer, one key conversation we have with them is to understand if AirGain 2.0 made it easier for them to not only test their pricing strategies but also made it faster and agile to make changes to the system.
The sheer suddenness of the Covid-19 pandemic thrust businesses across sectors into a deep downward spiral. Granted, it has been over a year since Covid first hit us, and that a vaccine is now available across the world. However, the ripple effect is yet to subside.
At this point, most airlines would have been running to full capacities, raking in profits on almost all routes. However, Covid-19 had other plans for us. The pandemic which struck havoc in late 2019 has left most airlines reeling in debts.
Restricted movements across the world due to the COVID-19 pandemic have severely affected the airline industry, making 2020 one of the worst years in its history since 9/11 attacks and 2008 global financial crisis combined. With an 85% decrease in global air travel, a report released by IATA recorded a loss of $84 billion in 2020 with an additional predicted loss of $15 billion in 2021, leaving the industry in a period of extended recovery at least until the year 2024.
Restricted movements across the world due to the COVID-19 pandemic have severely affected the airline industry, making 2020 one of the worst years in its history since 9/11 attacks and 2008 global financial crisis combined.