The Covid-19 Pandemic has challenged airlines’ and other travel businesses’ Revenue Management. RM has traditionally relied on past historical Revenue Accounting data to predict future sales. Seven years of history of past sales accurately predicted future sales. However, Covid-19 has radically reduced travel sales and changed travel patterns. Airlines have been forced to add new leisure routes, for which there is demand, to replace former higher yield business routes for which demand has disappeared.
Ai Events’ Christopher Staab sat down with Oliver Ranson, one of the world’s leading airline Pricing and Revenue Management experts, on the current challenges to RM. Oliver also suggested 3 data sources that airlines and travel companies can use now to immediately have accurate RM.