What is post-booking revenue and capacity optimization?
Post-booking revenue and capacity optimization refers to the process of optimizing both unit revenue and capacity on flights after customers have purchased a ticket.
Isn’t this just standard revenue management?
No, typical revenue management focuses on a flight prior to when customers book. Post-booking optimization enables airlines to continue to react to fluctuations in demand on flights even after customers book (and potentially after a flight has sold out).
How do passengers benefit from this?
Customers benefit in a number of different ways.
Flexible passengers traditionally had no way to express their flexibility to the airline until the very last moment in the travel journey. Typically, when passengers reached the airport gate. This is a highly negative experience, as it requires customers to leave their homes, travel to the airport, make their way through security, and wait in the boarding area before finding out that they might be needed by the airline. Volantio’s YanaTM platform enables airlines to connect with flexible passengers much earlier in the travel journey, making it possible for these passengers to decide on whether or not they would like to accept the offer in many cases before they have even left their homes.
Passengers who absolutely must fly on a particular service also benefit. In the past, when a flight was completely sold out, airlines could not easily open up additional inventory, meaning that last minute passengers could not purchase a seat on their preferred airline or service. Volantio’s YanaTM platform enables airlines to open up additional inventory in a much more seamless manner.
Do customers need to visit Volantio to participate?
No, Volantio provides YanaTM as a white label solution to airlines.
I want to participate - how do I know if I am eligible?
Only certain flights are made eligible. Airlines using YanaTM will then reach out to customers on those flights directly - either via text message, mobile app, or email - to inform customers about their eligibility to participate. In some cases customers must have provided airlines with permission to market to them, in order to receive the communication.
What types of offers do airlines make?
Offers to date have included vouchers for future travel, upgrades to business class, and frequent flyer points. More offer types are possible depending on what customers prefer.
Do customers have to pay to participate?
The terms and conditions differ for each individual airline, however to date no airline has charged customers to participate.
Is it possible to apply this technology to other industries beyond airlines?
Currently, Volantio is completely focused on the airline industry, however the baseline technology can and will be used in the future for any industry with perishable inventory, costly fixed assets, and volatile pricing and demand.