In recent years, landscape change in the passenger air transport industry has forced transport operators to rethink their revenue management approach.
Airline companies now face more informed customers than ever and with price pressures for diminishing them. This has made it crucial to obtain a more accurate visibility of demand for air routes as well as the right prospects that allow companies to maximize their revenue and compete with real chances on a difficult market. This is why Finnair chose Amadeus Network Revenue Management.
The solution will allow the airline, which carries over 12 million passengers annually, to improve the accuracy of customer demand forecasting and to better optimize the home and destination network. But this agreement does not just refer to the technology side.
A dedicated team of expert consultants Amadeus worked closely with Finnair on the business side to put into practice a complete transformation of the Origin & Destination segment in order to ensure that the airline is ready to take full advantage of its competitive features.
Amadeus Network Revenue Management uses data from multiple sources and applies modern scientific algorithms to determine the purchasing behavior and willingness to pay for customers.
Based on this information, it offers quick, accurate and intelligent recommendations on the best price and optimal presentation of the airline's offers.
Manuel Midon, Head of Airlines for North and West Europe at Amadeus, said:
"We are very excited to work with Finnair to help it raise its revenue management to a new level. Our technology is built on proven operational excellence, combined with first-class consulting and support services. This powerful combination provides airlines, such as Finnair, that they are better prepared to achieve long-term profitability in a fast-changing market and that they are better positioned to optimize the full offer through a single management system."
Mike Stirkkinen, Vice President of Revenue Management & Pricing, Finnair commented: "With the growth of auxiliary products and growing competition in the aerospace industry, Finnair has called for a solution that will enable it to maximize revenue management through advanced features such as predictive modeling of customer behavior. After carefully assessing all the options available on the market, it became very clear that Amadeus's solution is a special one. Consultancy and support in the implementation process have also been crucial, and Amadeus has also excelled in this area. Together with the impressive post-implementation services we offer, we really have the feeling of being safe on our hands in working with Amadeus".