Author: Juan Pablo Lafosse, TravelX CEO
Previously, a full flight meant denying high-value last-minute reservations, leading to lost profits for airlines and disappointment for passengers. No more.
At TravelX, we have developed a unique solution that combines advances in agent and generative AI with increasingly powerful ML predictive capabilities. This provides significant opportunities for airlines to increase revenue while improving the passenger experience at the post-booking stage.
Our RmX solution revolutionizes the field of revenue management by creating post-booking opportunities previously unavailable to airlines, while simultaneously increasing revenue and improving the passenger experience. It uses machine learning to predict which flights are most likely to sell out, and which passengers on those flights are most likely to sell their tickets back in exchange for seats on another flight, or sell credits to book future travel on the same airline.
This allows these high-demand seats to return to the market and be resold to customers willing to pay a premium to secure late bookings on their desired flights.
Early adopters have found that passengers who agree to transfer often end up spending more on their next transaction, whether by booking a higher fare, purchasing additional accessories, or bringing someone else with them on their next trip.
Airlines using RmX report incremental revenue increases of 5-6% and overall revenue increases of 1-1.5%. In an industry where profit margins are tight and competition is fierce, every penny of extra income counts.
Airline partners report that RmX delivers up to 10x more incremental revenue than other post-booking solutions on the market. This is a clear sign that this technology is setting new industry benchmarks. That’s why early adopters of post-booking revenue management solutions have turned to TravelX’s technology to maximize their revenue potential and deliver superior customer experiences.
Surcharges for things like meals, in-flight Wi-Fi, legroom and checked baggage are now commonplace as airlines strive to boost ancillary revenue. However, advances in AI and machine learning are creating new revenue opportunities, especially in the post-booking space.
TravelX helps airlines leverage these advanced technologies to make smarter, faster decisions that drive revenue growth and improve the passenger experience.
Massive amounts of data collected across multiple customer touchpoints can now be rapidly analyzed, allowing adaptive algorithms to identify the most flexible passengers and send them personalized offers. Airlines have never had access to a more advanced post-booking revenue management solution than TravelX’s RmX.
For example, TravelX’s predictive model can determine that 12 passengers who paid $100, bought tickets 35 days in advance, and were traveling alone will be kicked off the plane in seven days. All this data allows airlines to define the right offers that maximize customer satisfaction and airline revenue.
This dynamic inventory management method can have a significant impact on an airline’s bottom line, as it can increase revenue and satisfy more customers without adding additional capacity.
We’ve built a white-label platform that integrates quickly and easily with an airline’s existing technology stack with little effort on the airline’s part. The results are quick, and within six to eight weeks, airlines can start generating additional revenue by reselling seats on entire flights at higher prices.
What’s more, by directing desired passengers to alternative flights departing with empty seats, load factors and fuel consumption per passenger are improved. This will help airlines strengthen sustainability in a world with increasing focus on reducing carbon emissions.
TravelX is transforming the way airlines optimize post-booking space and manage inventory. Globally recognized airlines such as Spirit Airlines, AirAsia, Cebu Pacific, Gol, Viva Aerobus and Volaris have already implemented it and are realizing its benefits.
TravelX is ready to collaborate with other forward-thinking airlines and help them truly increase their post-booking revenue. Can your airline afford to be left stranded on the tarmac?
