Akasa Air partners with RateGain for dynamic allocation of airfares

Akasa Air, a recently launched airline, has teamed up with RateGain Travel Technologies to collect real-time air travel data that will aid the airline in setting dynamic fares.

RateGain said its AI-powered platform AirGain provides the airline's revenue and pricing teams with the most accurate and reliable market insights to build a competitive pricing strategy, in a release on Friday.

According to the press release, dynamic pricing data will give the airline the ability to respond to shifting market dynamics and optimise airfares in real-time to offer the best fares to customers.

Bhanu Chopra, Chairman and Managing Director of RateGain, said, "As Akasa grows, our product AirGain will help in maximizing revenues by providing accurate and real-time competitive intelligence."

According to the release, it provides the user with real-time competitor insights across channels to reduce disparity and revenue losses.

Praveen Iyer, co-founder and Chief Commercial Officer of Akasa Air, said, "AirGain's nimble solution delivering real-time air travel information across channels will help us achieve a dynamic allocation of fares."

On 10 September, Akasa Air had commenced operations on the Chennai-Bengaluru route on Saturday making Chennai the fifth city on its network.

Akasa Air will also expand into India’s northeast launching flights to Assam and Tripura from next month. The airline is expected to launch flights to Guwahati and Agartala on 21 October.

On 7 August, Union Minister Jyotiraditya Scindia virtually flagged off Akasa Air's first commercial flight that departed from Mumbai to Ahmedabad.

Backed by ace investor Rakesh Jhunjhunwala and aviation sector veterans Aditya Ghosh and Vinay Dube, Akasa Air is being seen as a reborn Jet Airways and a re-invented Air India.

The civil aviation sector was significantly impacted by the coronavirus pandemic and is on the recovery path. With Akasa Air the signs are very clear that it is going to be a growing and healthy market.

(With inputs from agencies)