FLYR Labs Applauded by Frost & Sullivan for Maximizing Revenue-generating Operations and Improving Forecast Accuracy with Its Advanced Airline Revenue Management (RM) System
Based on its recent analysis of the North American Airline Software Digitalization Industry, Frost & Sullivan recognizes FLYR with the 2021 Enabling Technology Leadership Award for its Cirrus™ platform, an advanced airline system that uses predictive technology to help airlines estimate demand for air travel accurately. The system uses historical data on prices and demand to predict future demand. The platform has robust features and capabilities to support revenue-generating operations. Based on artificial intelligence and deep learning algorithms, the Cirrus platform clarifies operational decisions that touch on sales and marketing, executive teams, and network planning.
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FLYR’s platform filters detailed information instantly through the Cirrus dashboard and user interface, enabling airlines to conduct greater analyses and generate reports for informed decision-making. The platform adopts artificial intelligence forecasting to maximize pricing across the booking curve to optimize supply and revenue. Forecast accuracy and autonomous decision-making capabilities lower analyst overrides by up to 90%. Sales and marketing teams can use the system’s predictive forecasting capabilities to find markets and regions to run their promotions for optimal revenue yield. Cirrus helps network planning teams to determine when to restart a market and down-gauge or up-gauge an airplane depending on estimated demand.
Frost & Sullivan Industry Analyst, Abhilash Abraham, states, “These predictions are beneficial for anticipating air travel demand as the negative impacts of the COVID-19 pandemic are gradually ending. Clients who utilize the Cirrus platform have sufficient time to prepare pilots and aircraft months in advance, whereas other airlines struggle to meet demand. Executive teams also benefit from the Cirrus platform to gain a better understanding of future revenue targets.”
The airline revenue management system empowers airlines with greater insight into the future, assisting them to optimize revenue generation and airline operations. The system can increase an airline’s revenue and passenger load factor by up to 7% and 4%, respectively. It reduces forecasting errors by 10 times. The system is reliable enough to meet airlines’ need for accurate demand prediction and optimal revenue generation.
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Frost & Sullivan Best Practices Research Analyst, Elizabeth Whynott further explains, “As the world recovers from the COVID-19 global pandemic, the demand for air travel will increase. A reliable revenue operating system is necessary to forecast demand and make accurate decisions regarding where and when to increase or decrease operations, which aircraft to retrieve from boneyards, and the number of pilots needed. The Cirrus Revenue Operating System optimizes airline functionality and helps them attain consistent strong returns.”
Each year, Frost & Sullivan presents this award to a company that develops a pioneering technology that enhances current products and enables the development of new products and applications. The award recognizes the high market acceptance potential of the recipient’s technology.
“Every day, FLYR Labs’ team of industry professionals and data scientists work to improve our Revenue Operating System, helping transportation leaders solve the challenges of today and tomorrow,” said Alex Mans, Founder and CEO of FLYR Labs. “We are grateful to receive this award as we strive to continue providing the leading commercial decision-making tools for the travel and transportation industry.”
