The International Air Transport Association is a trade association of the world's airlines founded in 1945. IATA has been described as a cartel since, in addition to setting technical standards for airlines, IATA also organized tariff conferences that served as a forum for price fixing.
A low-cost carrier or low-cost airline (LCC), also called no-frills, budget or discount carrier or airline, is an airline that is operated with an emphasis on minimizing operating costs. It sacrifices certain traditional airline luxuries, for cheaper fares. To make up for revenue lost in decreased ticket prices, the airline may charge extra fees such as for carry-on baggage. As of April 2020, the world's largest low-cost carrier is Southwest Airlines, which operates primarily in the United States, as well as in some surrounding areas.
AAdvantage is the frequent-flyer program of American Airlines. Launched May 1, 1981, it was the second such loyalty program in the world and remains the largest, with more than 115 million members as of April, 2021.
Orbitz.com is a travel fare aggregator website and travel metasearch engine. The website is owned by Orbitz Worldwide, Inc., a subsidiary of Expedia Group. It is headquartered in the Citigroup Center, Chicago, Illinois.
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."
Business class is a travel class available on many commercial airlines and rail lines, known by brand names which vary, by airline or rail company. In the airline industry, it was originally intended as an intermediate level of service between economy class and first class, but many airlines now offer business class as the highest level of service, having eliminated first class seating. Business class is distinguished from other travel classes by the quality of seating, food, drinks, ground service and other amenities. In commercial aviation, full business class is usually denoted 'J' or 'C' with schedule flexibility, but can be many other letters depending on circumstances.
Economy class, also called third class, coach class, steerage, or to distinguish it from the slightly more expensive premium economy class, standard economy class or budget economy class, is the lowest travel class of seating in air travel, rail travel, and sometimes ferry or maritime travel. Historically, this travel class has been called tourist class or third class on ocean liners.
A round-the-world ticket is a product that enables a traveller to circumnavigate the world on a single itinerary. RTW tickets in the past were generally offered through marketing agreements between airlines on several continents. Now, they are generally offered by airline alliances such as SkyTeam, Star Alliance and Oneworld, or by specialist travel agencies that will plan a custom trip for the consumer. Prices vary but are generally in the range of US$2,500–6,000 for an economy class ticket and US$5,000–14,000 for business class. An alternative for a round-the-world ticket is a continent pass.
Brussels Airlines is the flag carrier and largest airline of Belgium, based and headquartered at Brussels Airport. It operates to over 100 destinations in Europe, North America and Africa and also offers charter services, maintenance and crew training. It is a member of the Star Alliance as well as the International Air Transport Association. The airline's IATA code SN is inherited from its predecessors, Sabena and SN Brussels Airlines. Brussels Airlines is part of the Lufthansa Group. The company slogan is ′You’re in good company′.
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.
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.
On most modern airlines, flying standby is when a passenger awaits at the portline without a seat assignment waits at the gate to see if there is an extra seat after all scheduled passengers have boarded. There are several common circumstances in which passengers fly standby:
Dynamic pricing, also referred to as surge pricing, demand pricing, or time-based pricing, is a revenue management pricing strategy in which businesses set flexible prices for products or services based on current market demands. It usually entails raising prices during periods of peak demand and lowering prices during periods of low demand.
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.
Fare avoidance, as distinct from fare evasion, is the lawful use of knowledge to travel using tickets which cost significantly less than the 'normal' fare for a given journey, which is what one might be expected to use. It is common in some parts of the world with complex travel networks, notably the National Rail network of Great Britain.
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.
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.
One-way travel or one way is a travel paid by a fare purchased for a trip on an aircraft, a train, a bus, or some other mode of travel without a return trip. One-way tickets may be purchased for a variety of reasons, such as if one is planning to permanently relocate to the destination, is uncertain of one's return plans, has alternate arrangements for the return, or if the traveler is planning to return, but there is no need to pay the fare in advance. For some modes of travel, often for buses, trams or metros, return tickets may not be available at all.
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.
An airfare is the fee paid by a passenger for air transport and is made up of the charge for a passenger to fly from an origin to destination and includes the conditions, rules and restrictions for travelling on the airfare.
