Cyprus Airways Chooses FLYR to Deploy AI-Based Revenue Management Solution

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Beyond Revenue Management

In this keynote presentation, Alex Mans, founder & CEO of FLYR, shares how AI is unlocking value across airline commercial functions.

Speakers: Alex Mans, Founder & CEO of FLYR Labs

Date Presented: December 1, 2021

Duration: 11:27

00:10 – Introduction:
Over the past 2 years, the airline industry has been forced to adapt at a rapid pace. At FLYR we are hyper-focused on helping transportation leaders achieve their ultimate potential by helping them with better forecasts and better revenue management capabilities using advanced and intuitive technologies.

01:09 – Core Capabilities:
In order to bring about a step-change in capability, we identified 4 primary areas of technology investment: data, forecasting, pricing, and intelligence.

02:32 – Navigating a Complex Environment:
To navigate a complex environment, we must understand how decisions impact the outcome. Much like navigation and self-driving algorithms, FLYR’s technology understands how huge amounts of data correlate to likely results.

03:25 – All Variables, All the Time:
Our Deep Learning technology understands context by mapping each input to all others. By understanding such correlation, we can accurately forecast and price even in noisy, or data-sparse environments.

04:29 – Measuring Performance:
So how do we know that FLYR’s technology drives better results? For every flight or market in the airline’s network, we generate what’s called a “baseline expectation” for both revenue and load factor. Especially in this environment, FLYR’s baseline is a much more accurate alternative to year-over-year metrics or historical averages, and, with this established baseline, we can objectively compare it to actual revenue and load factor as it builds through time.

05:57 – Delivering Results:
FLYR is able to generate extremely accurate forecasts of load factor and revenue performance 30, 60, 90, and 120 days in advance, with 10X improvement in accuracy of those forecasts, compared to what is available today.

07:35 – The FLYR Difference:
How is FLYR different beyond its advanced technology? We’ve built a process that allows us to deploy our technology at an incredible pace. Typically it takes only 12 to 14 weeks to implement our product. And most importantly, we will implement our technology at no cost until we have proven incremental revenue uplift.

08:42 – We’re Not Just a Vendor; We’re a Partner:
We consider ourselves a partner first, vendor second. Together with our customers, we determine where we spend our dollars and our capital to solve the problems of today and tomorrow. We are building The Revenue Operating System®, not just another revenue management solution. At FLYR, we are getting everyone on the same page, giving them access to the same core capabilities and same accurate ground truths that help inform better commercial decisions.

10:01 – Conclusion:
This is just the beginning. We are helping airlines achieve new heights, defining and building what will help them make better, more confident commercial decisions that they can truly rely on today and into the future.

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