Virgin Atlantic leads airline industry by implementing innovative, first-of-its-kind generative AI pricing technology to fully automate processes, offer the most sophisticated and competitive pricing for customers, and support revenue generation.
TEL AVIV, ISRAEL – Virgin Atlantic has partnered with Fetcherr, a demand prediction and AI-native algorithmic pricing optimization solution, to implement its Generative Pricing Engine (GPE). Through this industry-leading partnership, Virgin Atlantic is the first airline to leverage Fetcherr’s cutting-edge, fully automated generative AI pricing technology, with the system live now and being used to price selected routes.
Fetcherr’s GPE is the industry’s first market dynamics generative AI model that generates the best real-time market moves to bring prices down or up, based on predicted actions of all market variables. The technology builds on the airline’s existing dynamic pricing to enable uniquely granular high-frequency pricing, inventory management, and publishing capabilities in one complete system that fully automates processes – from pricing to publishing – to optimize operations and support revenue generation.
The GPE scans the entire network 24/7, optimizes and justifies pricing recommendations to generate hidden or lost revenue, saves manpower by publishing fares in real-time to all distribution channels, and accurately predicts demand and inventory in all markets. For example, where seats are still available in higher volumes, it may automatically price lower for prospective customers to incentivize bookings.
Chris Wilkinson, VP Airline Pricing and Revenue Management, Virgin Atlantic said: “Innovation is in Virgin Atlantic’s DNA and with Fetcherr’s Generative Pricing Engine, we’re leading the way to offer dynamic pricing that harnesses generative AI. As strong and sustained demand for air travel continues, our focus remains on our customers and giving them the best service and experience at a price optimised to drive preference. Our partnership with Fetcherr offers a major advancement in pricing technology beyond traditional segmentation, along with seamless end-to-end operational infrastructure, that will revolutionise the way we set prices.”
“We are committed to revolutionizing the way airlines price flights and are excited Virgin Atlantic is determined to disrupt the industry by embracing new methods to tailor pricing and improve revenue,” said Roy Cohen, CEO and Co-Founder at Fetcherr. “We are committed to helping Virgin Atlantic automate and enhance its operations and revenue using our generative AI technology.”
Fetcherr’s partnership with Virgin Atlantic follows its recent $12.5M Pre-Series B funding, expansion into the U.S. with the opening of its North American headquarters, and Advisory Board growth which includes the appointment of Ben Baldanza, former CEO of Spirit Airlines. Alongside Baldanza, Fetcherr’s Advisory Board of seasoned aviation industry executives and veterans includes Alex Cruz, former Chairman and CEO of British Airways; John Dabkowski, former CEO of Navitaire, Senior Vice President at the airline solutions division at Sabre, and Vice President of Airline Commercial at Amadeus; and Nathaniel Felsher, former Global Co-Head of Aviation – Corporate & Investment Banking at Deutsche Bank.
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