LATAM adopts Sabre's intelligent solution Air Price IQ

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04/09/2024 - 08:30 AM

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.