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Travel Could This Industry-Backed Start-Up Solve Overbooking?

14:54  28 february  2018
14:54  28 february  2018 Source:   travelpulse.com

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A start - up that claims to have found a way to generate more money for airlines while notching up customer happiness and improving marketing is being backed by some of the airline industry ’s biggest names. The company, Volantio Inc, is a post-booking revenue optimization firm.

Could This Industry - Backed Start - Up Solve Overbooking ? During the fall and winter of 2017, Visit Buffalo Niagara began developing the Buffalo Wing Trail by seeking input from locals via social media on their favorite wing joints throughout the city of Buffalo and Erie County. Then the next step was to

Airplane Seats: Volantio�s software identifies potentially flexible travelers in advance and sends them change offers via text message. (photo via Pixabay/Stock Snap)© Pixabay Volantio�s software identifies potentially flexible travelers in advance and sends them change offers via text message. (photo via Pixabay/Stock Snap) A start-up that claims to have found a way to generate more money for airlines while notching up customer happiness and improving marketing is being backed by some of the airline industry’s biggest names.

The company, Volantio Inc, is a post-booking revenue optimization firm. In addition to helping airlines preventatively rebalance flights by offering buyouts to passengers, the Atlanta firm also helps airlines maximize revenue by reselling tickets.

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Sign up to create alerts for Instruments, Economic Events and content by followed authors. Many airlines still routinely overbook flights because a small number of passengers do not show up . Barodawala gave a hypothetical example that someone flying from Frankfurt to Paris and back in a

Many airlines still routinely overbook flights because a small number of passengers do not show up . If planes are overloaded, they seek volunteers to change flights before It could also help airlines if they need to free up seats to rebook passengers following disruptions such as those related to bad weather.

In February, Volantio wrapped up a $2.6 million series B funding round, according to Bloomberg. While the amount of money raised is notable, perhaps the bigger headline comes from the venture capitalists backing Volantio, among them International Airlines Group (IAG), JetBlue Technology (JTV) and Qantas Ventures.

The partnership between the three airline giants comes after a year, most notably marked by the public relations disaster of an elderly doctor been dragged off an overbooked United Airlines flight, resulting in the man suffering a concussion and broken nose.

According to Bloomberg, the technology being offered by Volantio could have preemptively sorted passengers onto different flights, preventing the airline from having to deal with the problem. Right now, airlines manually rebook passengers.

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Many airlines still routinely overbook flights because a small number of passengers do not show up . Barodawala gave a hypothetical example that someone flying from Frankfurt to Paris and back in a It could also help airlines if they need to free up seats to rebook passengers following disruptions such

“ Overbooking ” or being “walked” are terms few people were familiar with unless they had spent time working in the hospitality or airline industries . That was until a video of a bloodied doctor being removed from an overfilled United Airlines flight spread like wildfire. What is overbooking ?

That’s just one example of Volantio’s offerings. The technology also shows promise for helping with such things as last minute aircraft swaps, cancellations tied to weather and more.

Helping with these issues would be no small accomplishment. As the Department of Transportation recently reported, nearly 75,000 passengers were bumped from flights in the final quarter of 2017.

While there’s been a downward trend overall, with airlines bumping the lowest rate of passengers on record last year, Volantio may be able to help manage the issue even more.

Volantio’s software identifies potentially flexible travelers in advance and sends them change offers in the form of a text message, according to Global Atlanta. Those notifications can be dispatched before the passenger heads to the airport, avoiding last-minute drama at the gate.

The company then resells released seats at much higher prices, which increases revenue for the airlines.

Volantio has already kicked off operations with Qantas, Iberia, Volaris and Alaska Airlines. More partnerships are on the way, Bloomberg reported.

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