The cloud-native solution will allow the
carrier to generate relevant offers by analyzing its own data in
real time along with actionable marketplace insights
SOUTHLAKE, Texas, April 9, 2024 /PRNewswire/ -- LATAM
Airlines Group and Sabre Corporation (NASDAQ: SABR), a leading
software and technology provider that powers the global travel
industry, today announced the carrier's adoption of Sabre Air Price
IQ™, an intelligent solution that is part of Sabre's Retail
Intelligence suite.
Powered by Sabre Travel AI™ technology, Air Price IQ allows
airlines to generate relevant offers by analyzing an airline's own
shopping and revenue management data in real time along with
relevant marketplace insights. It also enables airlines to bring
their own pricing models and define business rules and strategies
to set boundaries for airfare pricing within the solution,
empowering them to turn data and insights into actionable
output.
Air Price IQ can also provide multiple benefits to airline
customers like the optimization of air prices to help drive higher
conversion rates and improved returns by delivering more relevant
offers across different channels as it utilizes artificial
intelligence (AI) and advanced machine learning (ML)
models.
"In today's competitive marketplace, it is crucial to offer
travelers a more relevant travel experience. Our partnership with
Sabre can help us bring the right offers to the right travelers at
the right time by using intelligent systems like Air Price IQ,"
said Rosario Phillips, vice
president of Customer and Commercial Solutions, LATAM Airlines
Group. "The flexibility and scalability of Sabre's solution allows
us to test and learn different pricing strategies, including using
our own models, enabling us to move from static pricing to dynamic
price, adapting quickly to fast-changing market conditions. It's an
important step towards the future we envision for dynamic
offers."
Considering customer segmentation and travel purpose, Air Price
IQ supports airlines in their efforts to provide a seamless
experience to its travelers while maximizing revenue opportunities.
This cloud-native, scalable travel technology solution supports
seasonal and time-of-day increases/decreases in shopping requests,
allowing airlines to adjust their prices in real time based on
capacity, competition and traveler context. Air Price IQ helps them
improve pricing precision by analyzing marketplace, pricing and
revenue management strategies, as well as booking velocity.
"LATAM has been a highly engaged partner that has collaborated
in designing and providing feedback to our solution. We are excited
to see the fruits and benefits of this partnership materializing
with their adoption of Air Price IQ, as we share a commitment to
innovation. The airline industry is constantly evolving, and
airlines require intelligent systems to manage increased complexity
and channel fragmentation to deliver a seamless, personalized
experience to travelers while improving profitability," said
Darren Rickey, senior vice
president, Global Airline Sales, Sabre Travel Solutions. "Enabling
airlines to dynamically price their airfares and offers based on
the travelers' propensity to purchase, customer profile or current
market conditions is key, and requires intelligent systems that
analyze large volumes of data at scale to deliver actionable
insights."
In partnership with Google Cloud, Sabre Travel AI™ provides AI
solutions and automated machine learning tools that sense, analyze
and predict consumer behaviors – using real-time shopping and
sophisticated travel-specific business insights. Its capabilities
enable airlines, agencies, corporations, hoteliers and other travel
partners to take their retailing and digital customer experience
strategies to the next level by delivering highly relevant and
personalized content more quickly, to better meet the demands of
today's traveler and create expanded revenue and margin growth
opportunities.
About Sabre Corporation
Sabre Corporation is a software and technology company that takes
on the biggest opportunities and solves the most complex challenges
in travel. The Company connects travel suppliers and buyers around
the globe and across the ecosystem through innovative products and
next-generation technology solutions. Sabre harnesses speed, scale
and insights to build tomorrow's technology today – empowering
airlines, hoteliers, agencies and other partners to retail,
distribute and fulfill travel worldwide. Headquartered
in Southlake, Texas, USA, Sabre serves customers in more than 160
countries around the world. For more information
visit www.sabre.com.
About LATAM Airlines Group S.A.
LATAM is Latin America's leading airline group, with
presence in five domestic markets in South America: Brazil, Chile, Colombia, Ecuador and Peru, along with international operations
within Latin America and to
Europe, US and the Caribbean. The group operates a fleet
including Boeing 767, B767F, B777, B787, Airbus A319, A320, A320neo
and A321 aircraft, the most modern models of their kind. LATAM is
recognized for its sustainable practices, based on three criteria:
economics, social and environmental. In 2021, following the S&P
Corporate Sustainability Assessment, LATAM was recognized as the
most sustainable airline in the region and fourth worldwide, as
well as being included in the 2022 Sustainability Yearbook in the
Bronze category. Likewise, the group was part of the Dow Jones
Sustainability Index for six consecutive years, being cataloged as
one of the most sustainable in the world. The shares of LATAM
Airlines Group are traded on the Santiago Stock Exchange. Due to
its Chapter 11 filing, the ADR program is no longer listed on the
NYSE and LATAM's ADRs are traded in the OTC (over-the-counter)
markets. For further information, visit www.latam.com. For
financial
information: www.latamairlinesgroup.net.
SABR-F
Media Contacts:
Kristin Hays
Kristin.hays@sabre.com
Heidi Castle
heidi.castle@sabre.com
Investor Contact:
Brian Roberts
sabre.investorrelations@sabre.com
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SOURCE Sabre Corporation