It would then adjust them according to the market response."Meanwhile on a typical business route -- let's say London to Frankfurt -- the airline may start with low prices to fill a minimum of capacity, then raise prices steeply for business travelers that book at the last minute."For example, a service developed by Barcelona-based company Caravelo helps airlines identify those passengers most likely to accept a flight swap in exchange for compensation, such as vouchers or frequent flier miles, and offers to rebook them on a later flight.
This approach means rebundling a bunch of services -- from checked-in luggage to a wider, more spacious seat --- into a number of fare package options of varying complexity, all selling for a set price.
FLYR's founder, Dutch entrepreneur Alexander Mans, says that outside a 30-day window of a flight's date of departure, there is a 60 to 70% chance that a specific air fare will drop in price at some point.
Singapore Airlines has just signed up to the system and the carrier's new A350XWBs will be installed with AVANT in 2018.
The deal also includes a new touch-screen system in economy class cabin -- the world's lightest seatback monitor -- and Ka-band -- currently the fastest inflight Internet.
"It is practically impossible for someone to monitor this manually, but with our computing resources we can predict pretty accurately the chances of a fare coming down and advise on the best course of action.