VIM Airlines has expanded its segment-based revenue management by adding two more modules. The Russian carrier has been using the ProfitLine/Yield Rembrandt revenue management solution from Lufthansa Systems successfully since 2011. Recently, the airline has complemented the two modules Price-Based Forecasting and Multi-Segment Optimization. The two companies signed a six-year agreement to this effect.
Expanding the revenue management solution will enable VIM Airlines to control capacity utilization of its flights even more efficiently, respond more quickly to market changes and thus increase its revenues. “Rembrandt is a truly universal tool that is suitable both for small and large numbers of flights. It is very convenient to use and enables us to flexibly realize our sales strategy. Thanks to the hybrid approach offered in the Price-Based Forecasting module, the built-in mathematical mechanism can be used very flexibly,” said Anna Ambrosova, Vice President at VIM Airlines. “ProfitLine/Yield Rembrandt with its new modules fulfills all of our requirements; the contract extension speaks for itself here.”
Lufthansa Systems’ leading segment-based revenue management solution ProfitLine/Yield Rembrandt supports demanding airlines in a tough market. The solution is suitable for any business model, including traditional management, the undifferentiated management used by low-cost carriers, and various hybrid approaches. Thanks to the new Price-Based Forecasting module, airlines can use both product-sensitive and price-sensitive forecasts and optimizations. This allows them to respond directly to market developments and price changes among competitors. The system monitors the entire network and tracks critical booking patterns in order to optimize the use of an airline’s fleet.
VIM Airlines can now offer tickets at prices based on what customers are willing to pay. This leads to greater efficiency and higher revenues. The system is also quick to implement, and it features an intuitive user interface and flexible reporting options. This makes the product ideal for any airline wanting to optimize its revenue management with minimal investment costs.
“Our revenue management solution was developed specifically to meet the needs of smaller and medium-sized airlines offering point-to-point connections.
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Full Article: Lufthansa Systems GmbH & Co. KG
Source : Lufthansa Systems GmbH & Co. KG