In the last couple of years, the pandemic has affected all our lives and business alike. Many sectors have faced the brunt of low demand, and many have had to recalibrate and pivot to survive. The travel industry has been impacted the most with many travel companies, airlines and service providers reducing their business outlook, and switching their business models to tackle low demand during this period.
The airline industry too has faced serious challenges. It was observed that the industry revenue numbers in 2020 had reduced to the same number as in 2000. It is still being projected that passenger traffic won’t be returning to 2019 levels till 2024.
Fortunately, there are visible signs of recovery. The outlook for travel has changed in the last few months. With the easing of travel restrictions and Pent-Up demand in many markets, airlines have started redeploying capacity. According to IATA, resurgence in demand will see passenger numbers reach 83% of pre pandemic levels in 2022.
As we move towards a “post-Covid” world, airlines need to prepare themselves for increased passenger numbers, both in the short, and medium term. Revenue and Pricing managers role is going to be ever important to optimize the pent-up demand and make informed decisions.
In order to make sure that airlines do not miss out on this opportunity, RateGain’s – AirGain product offers airline revenue managers customizable competitive intelligence data. AirGain collects data from over 200 airlines, 170+ OTAs, and 700+ websites. This makes sure that the information is accurate, real time, and consistent. We’ve also made sure that the platform’s interface is user friendly, efficient, and boasts of many industry first features.
For Revenue Managers to keep up with ever-changing trends, the ‘Market Sense’ feature built in to AirGain will help revenue managers set up specific rules on options such as ONDs, departure dates, channels, fares, etc. Other features like, Fare Trend and Fare Evaluation helps revenue managers track trends in their respective markets and OND’s. AirGain is being used by many airlines around the world who rely on the timely delivery of accurate data to make better revenue management decisions.
With the introduction of Demand-AI, one of our most recent and valued innovations on the AirGain platform, revenue managers will have the ability to check Demand index’s for their markets on a OND level and further optimize revenue.
The airline industry is looking forward to taking off into a future of recovery, which Revenue Managers need to be prepared for. They have an important role to play in this scenario and they possess the key to making it all come true. With our platform, we’ll ensure that they are delivered the best so that they can deliver the best to their airlines and to this industry.
To know more about AirGain and Demand-AI visit our website www.airgain.ai.