TravelX Helps Airlines Embrace Technology Advancements in Post- Booking Space
Advancements in artificial intelligence (AI) and machine learning present a huge opportunity for airlines to increase their post-booking revenues while improving the passenger experience.
One pioneering technology company has developed a unique solution that harnesses these advancements to enable airlines to resell seats on fully booked flights to high-value, last-minute customers at multiple times the original fare, by identifying and incentivizing more flexible customers to switch to alternative, lower-demand services.
TravelX’s RmX solution is revolutionizing how forward-thinking airlines manage their seat inventories, and these early adopters are already seeing impressive results. In fact, one of our partners has reported that RmX delivers up to ten times the incremental revenue uplift compared with other post-booking solutions — setting a new performance benchmark in the industry.
“We’ve built a platform that can be integrated on top of any airline’s existing system, and within six to eight weeks — with very little effort on the airline’s side — can start generating additional revenue from re-marketing the seats,” explains TravelX CEO Juan Pablo Lafosse.
TravelX’s vision is for RmX to become standard for carriers of all sizes and markets — a plug-and-play solution that boosts total revenues while keeping both high- and low-yield customers satisfied.
“There is a really strong need for transformation to more modern retailing, and our vision is to help airlines go through that transformation — to become better retailers by improving their capabilities and their customers’ journeys,” says Lafosse.
RmX uses machine learning to analyze an airline’s operations and predict which flights are likely to be full. Its adaptive algorithms then target customers booked on those flights who are most likely to accept an offer to sell back their tickets and either switch to a less busy flight or receive credit to book a different service with the same airline. The freed-up seats can then be resold at a premium to higher-yield passengers closer to departure.
Airlines using RmX typically see 4–6 transactions per managed flight, supported by high predictive accuracy that ensures the right passengers are targeted. On average, airlines are able to resell over 90% of released seats at nearly three times their original fare value, driving an uplift of more than 1% in total system revenue.
“We’ve built a platform that can be integrated on top of any airline’s existing system, and within six to eight weeks — with minimal effort from the airline — can start generating incremental revenue by optimizing seat allocation and flexibility.”
— Juan Pablo Lafosse, TravelX CEO
“This is a solution that can work for any type of airline — small, medium, or large,” adds Lafosse. TravelX is already partnering with a growing number of innovative and highly regarded airlines, including Spirit Airlines, AirAsia, Cebu Pacific, GOL, Volaris, and Viva Aerobus, with agreements underway with multiple full-service network carriers.
RmX is a white-label solution, meaning it can be fully customized and branded by each individual airline. This ensures a seamless process where the customer interacts and transacts directly with the airline.
TravelX’s predictive modelling helps airlines understand and anticipate how their customers will behave, enabling smarter decisions in very specific contexts. For airlines that embrace the opportunities presented by technology advancements in the post-booking space, the sky truly is the limit when it comes to maximizing revenues and customer satisfaction.
