Kenya Airways #ticker:KQ has installed a new revenue management solution which will enable the airline to optimise ticket sales.
KQ, as the national carrier is known by its international code, says one of the biggest challenges for airlines in revenue management is striking a balance between high-priced late bookings and low-priced early bookings.
The new system, by travel technology firm Amadeus, will enable the company to maximise ticket prices across various booking times while remaining competitive.
Travellers seeking bargains often compare ticket prices from different airlines.
“As the market dynamics and our customer behavioural patterns change, it is important to continue innovating and improving processes to meet those changes,” Sebastian Mikosz, KQ’s chief executive said in a statement.
“We will be able to know and understand our customers even better and in turn avail more competitive fares to them.”
He added that this is part of the airline’s turnaround strategy aimed at growing revenues. The company has been making losses and the government, its major shareholder, plans to nationalise it by buying out other investors.
“This partnership will strengthen the relationship between Kenya Airways and Amadeus,” Maher Koubaa, a regional executive at Amadeus, said in a statement.
“We are dedicated to working closely together to deliver a new approach to revenue management to support the complex and specific needs of this rapidly evolving airline.”