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.
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.
COVID-19 disrupted all economies and had momentarily seized cash-registers from ringing with airlines expected to lose $84.3 billion in 2020 for a net profit margin of -20.1% (IATA). Airlines all across the world witnessed a nose-dive due to the pandemic-induced-lockdowns. Realizing the prolonged impact the contagion is bound to inflict until an antidote is developed, many countries are trying to restore normalcy with the virus in the backdrop. And, as WHO rightly puts it, "We have all got to learn to live with this virus".
We today live in a world where we now have an app for everything. Today we have more than 5.5 million apps available across all app stores with over 178.1 billion downloads every year, suggesting that on an average each of the 2.7 billion mobile users try more than 65 apps.
This year marks the end of a landmark decade for digitization and technological adoption. Path breaking technologies like artificial intelligence and personalization have been incorporated into business functions to facilitate strategy execution. The fact that 72% of business leaders believe that AI is synonymous with ‘business advantage’ attests this growing shift.