In recent years, the changing landscape in the airline industry has forced carriers to rethink their approach to revenue management.
Airlines now face customers that are more empowered than ever and a relentless downward pressure on prices.
This has made it crucial to gain accurate visibility on demand for routes and the right insights that let airlines maximise revenue and compete in a challenging marketplace.
This is precisely why Finnair has chosen Amadeus Network Revenue Management.
The solution will allow the airline, which carries over 12 million passengers a year, to improve accuracy in forecasting customer demand and better optimise its origin and destination network.
But this agreement is not just about technology.
A dedicated team of expert Amadeus consultants has worked closely with Finnair to undergo a complete Origin & Destination business transformation, to ensure the airline is equipped to take full advantage of its competitive features to drive profitability.
Manuel Midon, head of airlines, northern and western Europe, Amadeus, said: “We’re immensely pleased to be working with Finnair to take its revenue management to the next level.
“Our technology is built on proven operational excellence, combined with first-class business consulting and services support.
“This powerful formula means airlines like Finnair are better equipped to achieve long-term profitability in a rapidly-transforming market, as well as being better positioned to optimize the total offer through one management system.”
Amadeus Network Revenue Management harnesses big data from multiple sources and applies modern scientific algorithms to determine customer purchasing behaviour and willingness to pay.
Based on this information, it then provides fast, accurate and intelligent recommendations on the best price and packaging of airline offers.
Mika Stirkkinen, vice president, revenue management and pricing, Finnair, commented: “With the rise of ancillaries and the increasingly intense competition in the airline industry, Finnair required a solution that would enable it to really maximize revenue management, through advanced features such as buy-down protection and predictive modelling of customer behaviour.
“After carefully assessing all available options in the market, it was clear that Amadeus’ solution was in a league of its own.
“The consulting and support on business readiness aspect was also crucial and, in this area, Amadeus also excelled.
“Combined with the impressive post-implementation services on offer, we truly have the feeling of being in good hands with Amadeus.”