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A codeshare agreement, also known simply as codeshare, is a business arrangement, common in the aviation industry, in which two or more airlines publish and market the same flight under their own airline designator and flight number as part of their published timetable or schedule. Typically, a flight is operated by one airline while seats are sold for the flight by all cooperating airlines using their own designator and flight number.
Yield management is a variable pricing strategy, based on understanding, anticipating and influencing consumer behavior in order to maximize revenue or profits from a fixed, time-limited resource. As a specific, inventory-focused branch of revenue management, yield management involves strategic control of inventory to sell the right product to the right customer at the right time for the right price. This process can result in price discrimination, in which customers consuming identical goods or services are charged different prices. Yield management is a large revenue generator for several major industries; Robert Crandall, former Chairman and CEO of American Airlines, gave yield management its name and has called it "the single most important technical development in transportation management since we entered deregulation."
Computer reservation systems, or central reservation systems (CRS), are computerized systems used to store and retrieve information and conduct transactions related to air travel, hotels, car rental, or other activities. Originally designed and operated by airlines, CRSs were later extended for use by travel agencies, and global distribution systems (GDSs) to book and sell tickets for multiple airlines. Most airlines have outsourced their CRSs to GDS companies, which also enable consumer access through Internet gateways. Modern GDSs typically also allow users to book hotel rooms, rental cars, airline tickets as well as other activities and tours. They also provide access to railway reservations and bus reservations in some markets, although these are not always integrated with the main system. These are also used to relay computerized information for users in the hotel industry, making reservation and ensuring that the hotel is not overbooked.
Sabre Global Distribution System, owned by Sabre Corporation, is a travel reservation system used by travel agents and companies to search, price, book, and ticket travel services provided by airlines, hotels, car rental companies, rail providers and tour operators. Originally developed by American Airlines under CEO C.R. Smith with the assistance of IBM in 1960, the booking service became available for use by external travel agents in 1976 and became independent of the airline in March 2000.
A passenger name record (PNR) is a record in the database of a computer reservation system (CRS) that contains the itinerary for a passenger or a group of passengers travelling together. The concept of a PNR was first introduced by airlines that needed to exchange reservation information in case passengers required flights of multiple airlines to reach their destination ("interlining"). For this purpose, IATA and ATA have defined standards for interline messaging of PNR and other data through the "ATA/IATA Reservations Interline Message Procedures - Passenger" (AIRIMP). There is no general industry standard for the layout and content of a PNR. In practice, each CRS or hosting system has its own proprietary standards, although common industry needs, including the need to map PNR data easily to AIRIMP messages, has resulted in many general similarities in data content and format between all of the major systems.
A boarding pass or boarding card is a document provided by an airline during airport check-in, giving a passenger permission to enter the restricted area of an airport and to board the airplane for a particular flight. At a minimum, it identifies the passenger, the flight number, the date, and scheduled time for departure. A boarding pass may also indicate details of the perks a passenger is entitled to and is thus presented at the entrance of such facilities to show eligibility.
Dynamic packaging is a method used in package holiday bookings to enable consumers to build their own package of flights, accommodation, and car rental instead of purchasing a pre-defined package. Dynamic packages differ from traditional package tours in that the pricing is always based on current availability, escorted group tours are rarely included, and trip-specific add-ons such as airport parking and show tickets are often available. Dynamic packages are similar in that often the air, hotel, and car rates are available only as part of a package or only from a specific seller. The term "dynamic packaging" is often used incorrectly to describe the less sophisticated process of interchanging various travel components within a package, however, this practice is more accurately described as "dynamic bundling". True dynamic packaging demands the automated recombination of travel components based on the inclusion of rules that not only dictate the content of the package but also conditional pricing rules based on various conditions such as the trip characteristics, suppliers contributing components, the channel of distribution, and terms of sale. Dynamic packages are primarily sold online, but online travel agencies will also sell by phone owing to the strong margins and high sale price of the product.
Amadeus IT Group, S.A. is a major Spanish multinational technology company that provides software solutions for the global travel and tourism industry. It is the world's leading provider of travel technology that focus on developing software for airlines, hotels, travel agencies, and other travel-related businesses to enhance their operations and customer experiences.
Airline booking ploys are used by travelers in commercial aviation to lower the price of flying by circumventing airlines' rules about how tickets may be used. They are generally a breach of the contract of carriage between the passenger and the airline, which airlines may try to enforce in various ways.
A global distribution system (GDS) is a computerised network system owned or operated by a company that enables transactions between travel industry service providers, mainly airlines, hotels, car rental companies, and travel agencies. The GDS mainly uses real-time inventory from the service providers. Travel agencies traditionally relied on GDS for services, products and rates in order to provide travel-related services to the end consumers. Thus, a GDS can link services, rates and bookings consolidating products and services across all three travel sectors: i.e., airline reservations, hotel reservations, car rentals.
Overselling or overbooking is sale of a volatile good or service in excess of actual supply. Overselling is a common practice in the travel and hospitality sectors, in which it is expected that some people will cancel. The practice occurs as an intentional business strategy in which sellers expect that some buyers will not consume all of the resources they are entitled to, or that some buyers will cancel. The practice of overselling aims to ensure that 100% of available supply will be used, resulting in the maximum return on investment. However, if more customers than the seller expects do wish to purchase or use the sold commodity, it may leave some customers lacking a service they expected to receive.
The Airline Tariff Publishing Company is a privately held corporation that engages in the collection and distribution of fare and fare-related data for the airline and travel industry. ATPCO currently works with more than 400 airlines worldwide, and it supplies more than 99% of the industry’s intermediated fare data to all the major airfare pricing engines, storing over 318 million active fares in its database and managing an average of 15 million fare changes each day.
An airline ticket is a document or electronic record, issued by an airline or a travel agency, that confirms that an individual is entitled to a seat on a flight on an aircraft. The airline ticket may be one of two types: a paper ticket, which comprises coupons or vouchers; and an electronic ticket.
Airline reservation systems (ARS) are systems that allow an airline to sell their inventory (seats). It contains information on schedules and fares and contains a database of reservations and of tickets issued. ARSs are part of passenger service systems (PSS), which are applications supporting the direct contact with the passenger.
Videcom International Limited is a United Kingdom travel technology company based in Henley-on-Thames. It designs, develops and provides modern computer reservations systems to airlines and the travel industry, specializing in the hosting and distribution of airline sales.
In commercial aviation, buy on board (BoB) is a system in which in-flight food or beverages are not included in the ticket price but are purchased on board or ordered in advance as an optional extra during or after the booking process. Some airlines, including almost all low-cost carriers and a handful of flag-carriers, have buy-on-board food and beverages as part of their ancillary revenue generation.
A fare basis code is an alphabetic or alpha-numeric code used by airlines to identify a fare type and allow airline staff and travel agents to find the rules applicable to that fare. Although airlines now set their own fare basis codes, there are some patterns that have evolved over the years and may still be in use.
In the United States and Canada, a bereavement flight is a flight purchased when a close relative has died or is dying. Bereavement fares used to be offered by many airlines, but as of 2015, most have stopped providing them.
The Transparent Airfares Act of 2014 was a proposed legislation that would have changed government regulations about how airlines advertise fares so that they could advertise the base, listing government imposed taxes and fees separately.
Basic economy class is a travel class offered by a number of airlines. The class has superseded economy class as the cheapest airfare option for passengers and generally comes with more restrictions when compared to standard economy fares. Restrictions vary between different airlines, but they generally include not allowing passengers to change or cancel tickets or select seats for free. They are seen as a strategy for market segmentation.
References
- ↑ ATPCO. "Glossary | ATPCO". www.atpco.net. Archived from the original on 2021-04-13. Retrieved 2020-12-30.
- ↑ Harteveldt, Henry. "The Future of Airline Distribution" (PDF). Retrieved 2020-12-30.
- ↑ ATPCO. "Glossary | ATPCO". www.atpco.net. Retrieved 2020-12-30.
- ↑ "Glossary". www.atpco.net. ATPCO. Archived from the original on 2021-04-13. Retrieved 2020-12-30.
- ↑ Campbell, Amanda. "Dynamic Pricing: Is this the biggest ever revenue transformation opportunity for air commerce?". blog.farelogix.com. Retrieved 2020-12-30.
- ↑ "Lufthansa Launches NDC Continuous Pricing". www.businesstravelnews.com. Retrieved 2020-12-30.