Virgin Australia expands Saber – GuruFocus.com
Brisbaneleverage real-time purchase data from Saber’s Dynamic Availability to drive incremental revenue opportunities.
SOUTHLAKE, TX and SINGAPORE and Brisbane, Australia, May 24, 2022 /PRNewswire/ — Saber Corporation (NASDAQ: SABR), a leading provider of software and technology powering the global travel industry, today announced an expanded and improved agreement with Virgin Australia. The carrier will use Saber’s Dynamic availability solution to identify ways to generate greater value while continuing to grow its operations.
The new deal is another step in Virgin Australia’s journey of technological advancement, following an earlier agreement between Saber and the airline, which will see the carrier also migrate to Saber. Revenue Optimizer tool enabling a 360-degree approach to forecasting, analyzing and optimizing revenue streams by providing real-time visibility into total revenue for each flight, market and departure date.
“Keeping up with today’s changing schedules, prices and capacity is increasingly difficult in today’s travel market. It is therefore essential that we have the right technological tools to enable intelligent decision-making based on up-to-date market information,” said Virgin Australia Group Chief Commercial Officer, David Emerson. “With dynamic availability, our team can actively detect and respond to market conditions with optimized pricing and capitalize on them in a competitive way that benefits our airline and our passengers.”
Dynamic availability allows airlines to better control their fare position by leveraging purchase data, automating fare changes and enabling dynamic pricing capabilities. It begins by capturing traveler behavior and competition through Saber Marketplace prices and other purchasing data. Machine learning models then use this data to generate recommendations that help generate additional revenue opportunities.
“As a key element of personalized retail, Saber’s dynamic pricing engine allows airlines to optimize availability at scale and in near real-time to unlock greater value with the goal of maximizing revenues, and we are delighted to be able to support Virgin Australia as they continue to scale up operations to meet strong travel demand,” said Rakesh NarayananVice President, Regional General Manager, Travel Solutions Airline Sales, Saber. “The current environment makes forecasting historical data less reliable. Pricing and revenue management analysts are struggling to monitor real-time availability and make manual price adjustments. today access to a large amount of flight options and typically buy up to 38 times before making a buying decision.Dynamic availability drives dynamic pricing with smart recommendations based on market demand and benchmarking of competition to support the airline’s price optimization and help ensure it is the ultimate choice for the end traveller.
About Saber Corporation
Saber Corporation is a leading software and technology company powering the global travel industry, serving a wide range of travel businesses, including airlines, hoteliers, travel agencies and other suppliers. The company provides retail, distribution and accomplishment solutions that help its customers operate more efficiently, generate revenue and deliver personalized travel experiences. Through its leading travel marketplace, Saber connects travel suppliers with buyers around the world. Saber’s technology platform supports more than $260 billion value of worldwide travel expenditure annually. Based at southlake, Texas, United States, Saber serves customers in more than 160 countries around the world. For more information, visit www.sabre.com.
About Virgin Australia:
Virgin Australia Group is a major Australian airline headquartered in Brisbane, Australia. The company operates scheduled domestic and short-haul international flights, charter and cargo services, and the award-winning Velocity Frequent Flyer loyalty program. The Group has been a competitor in the Australian aerospace landscape for over 20 years. We’re a winning team and we attract the best: challengers, innovators and really fun people with big hearts. At Virgin Australia Group, we pride ourselves on recruiting the right people to join our team and help us meet the challenges ahead. Whatever our role, we are united by our ambition to be the most loved airline in Australia, and go the extra mile for our customers, our colleagues and our community at large. For more information, visit www.virginaustralia.com.
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SOURCE Saber Corporation