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As pandemic rolls on, fare forecasting tools are changing: Travel Weekly

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As revenue management forecasting evolves, consumers won't necessarily pay more in airfare overall. Rather, pricing will be more closely aligned with demand conditions, both strong and weak. Photo Credit: potowizard/Shutterstock.com
The upheaval caused by the Covid-19 pandemic has rocked the foundation of airline industry revenue management forecasting and opened the door for upstarts to win the business of a growing number of carriers.
The upshot for consumers could ultimately be pricier fares during times of high demand and even steeper discounts during off-season and low-travel periods.
Judson Rollins
"Right now there's the lowest disruption cost that there will ever be," said Judson Rollins, head of the New Zealand-based consultancy Propel Solutions and a former revenue manager at Air New Zealand. "I've talked to people at 10 airlines globally who said their carriers are pursuing other revenue management systems." He called the market shift "a tidal wave."

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Airlines Tweak Their Pricing Strategies to Adopt New Ways to Boost Revenue

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The pandemic caused a plunge in demand that has stumped the software that airlines use for pricing. The airlines have been responding by changing how they forecast demand. The changes are shaking up revenue management, a specialty that airlines have spent hundreds of millions of dollars on in the past decade.
While demand has plunged more than 70 percent on many routes, airlines have tried to keep their pricing power. United cut its domestic U.S. one-way ticket prices only 10 percent year-over-year to $228, including taxes and fees, during the second quarter, according to most recent data yet released by the U.S. Department of Transportation and analyzed by travel data company Cirium. Frontier trimmed fares only 8 percent on average, to $68. Delta trimmed 14 percent to $208, on average.

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