Air India, which is controlled by the Tata Group, has joined hands with RateGain for its AirGain product to adjust prices with real-time, accurate, and high-quality airfare data in a bid to compete with leading global airlines. Air India offers flights to around 90 destinations across 30 countries in Asia, Europe, the US, Canada, and Australia.
The initiative will help compare the best airfares across the world as rising fuel prices and inflation have forced most airlines to hike ticket prices. Travellers are cost conscious and are picking up the best deals available. The tie-up will also help Air India accurately understand the shifts in market trends, monitor competitive strategy, and understand the right price at all times.
How will it work
AirGain is an innovative SaaS-based fare pricing intelligence product, which has been designed to enhance the efficiency of Air India in terms of revenue and operations. The product offers insights on pricing and looks into real-time competitive intelligence data. This will help the operator in updating its revenue strategy with the latest market insights.
AirGain will also track historical trends and track fare fluctuations on its most-profitable routes. This will help the revenue and commercial teams in tweaking their plans based on market development.
Aruna Gopalakrishnan, Executive Director of Corporate Affairs, Air India, said: "Air India is focused on becoming one of the most competitive airlines in the world. Technology push is very crucial at this moment. Perhaps, RateGain can put us as the preferred choice of traveller."
RateGain Share price
The shares of RateGain Travel Technologies Limited rose by more than 2 per cent on August 17, after the company announced its tie-up with Air India. Around 9.55 am, the shares were 2.15 per cent higher, and were trading at Rs 292.65.
Last week, Air India announced that it would introduce 24 new domestic flights. The 24 additional flights would include two new frequencies from Delhi to Mumbai, Bengaluru, and Ahmedabad and from Mumbai to Chennai and Hyderabad. New frequencies on the Mumbai-Bengaluru route and Ahmedabad-Pune route have also been added. Air India's narrowbody aircraft fleet has 70 aircraft, of which only 54 are serviceable. Plans are afoot to bring back the rest to service by early 2023.
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