airline revenue management

Airline revenue management involves strategically adjusting ticket prices and seat inventory to maximize airline revenue. By analyzing factors such as demand, booking patterns, and remaining seat availability, airlines forecast future bookings and set prices accordingly. For example, they may offer cheaper tickets early on to attract early bookings and increase prices as the flight fills up. This dynamic process helps airlines sell the right seat to the right customer at the right time and price, balancing demand and capacity efficiently to optimize profits while meeting customer needs.