Airlines are seeking to work more closely with travel technology companies to mine customer data for ways to generate more revenue beyond ticket sales, emulating other industries already using such methods.
While retailers have implemented ever more ingenious ways to make better use of customer data, both online and offline, many airlines have been slower off the mark, only recently looking to harvest more profitably wealth of information provided by their frequent-flyer loyalty schemes.
"Revenue from the ticket is barely covering costs these days," Uwe Klenovsky, commercial director of Thomas Cook Airlines, said at the CAPA World Aviation Summit in Antwerp. The International Air Transport Association ( IATA) forecasts that global airlines will achieve a net profit margin of only 2.4% this year, higher than 2013 but a long way from the 10% margins in the 1960s.
24/11/14 Times of India
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While retailers have implemented ever more ingenious ways to make better use of customer data, both online and offline, many airlines have been slower off the mark, only recently looking to harvest more profitably wealth of information provided by their frequent-flyer loyalty schemes.
"Revenue from the ticket is barely covering costs these days," Uwe Klenovsky, commercial director of Thomas Cook Airlines, said at the CAPA World Aviation Summit in Antwerp. The International Air Transport Association ( IATA) forecasts that global airlines will achieve a net profit margin of only 2.4% this year, higher than 2013 but a long way from the 10% margins in the 1960s.
24/11/14 Times of India
