Air India, owned by Tata, until recently was locked into an outdated manual pricing system when setting airfares, but under Tatas, it has used algorithms to extract more revenue from each flight. We are migrating to base software. Last month, the airline announced plans to purchase 470 jets in one of the largest aircraft orders by a global airline.
Until recently, the company was tied to an outdated manual pricing system when setting airfares, but under Tatas, it has used an algorithm to extract more revenue from each flight, according to a Reuters report. We are migrating to base software.
Wilson notes that a blank slate approach is possible in some areas, such as technology, which is why he’s putting artificial intelligence (AI) and other tools at the heart of Air India’s reboot. . Airlines’ sophisticated “revenue management” software aims to stay ahead of demand by continuously predicting where people want to go and how much they’re willing to pay.
As such, the carriers are looking to fund the $70 billion order through internal cash, shareholders’ equity and sale-and-leasebacks.