Wednesday, August 21, 2024 Thai Airways partners with RateGain in a multi-year deal to enhance pricing strategies, leveraging AI-powered technology for global competitiveness and growth. RateGain Travel Technologies Limited (RateGain), a prominent provider of AI-driven SaaS solutions for the travel and hospitality sectors, recently announced a significant collaboration with Thai International Public Company Limited (Thai Airways). Thai Airways, the national carrier of Thailand and a member of the prestigious Star Alliance network, has chosen RateGain’s AirGain platform for a multi-year alliance aimed at revolutionizing its pricing strategies over its extensive network of domestic and international flights, leveraging its Star Alliance connections.
Established in 1960, Thai Airways has been a key player in the aviation industry, renowned for its high standards in service, timeliness, and safety, and consistently ranked among the world’s top airlines. Operating from its main hub at Suvarnabhumi Airport in Bangkok, the airline offers a broad spectrum of global destinations. Its membership in the Star Alliance enhances its global connectivity, offering passengers comprehensive travel solutions and benefits across the world.
In the initial quarter of 2024, Thai Airways and its subsidiaries reported a total revenue of 45,955 million baht, marking an increase of 10.7% from 41,507 million baht during the same timeframe the previous year. This surge in revenue was largely attributed to an increase in passenger revenue, buoyed by the resumption of flights and an increase in service frequency to key destinations in Europe, Australia, and Japan.
With a fleet size of 79 aircraft at the close of 2024, expected to rise to 89 by 2025, the timing of Thai Airways’ partnership with AirGain is strategic as the airline industry sees significant growth. This partnership will enable Thai Airways to utilize AirGain’s state-of-the-art technology to boost its competitive position in the market. By delivering exceptional value and superior service, Thai Airways continues to strive towards being the preferred choice for international travelers.
Having recently exceeded a market capitalization of 1 billion on the Indian stock exchange, RateGain is demonstrating robust year-over-year growth and is establishing itself as a reliable force in the airline rate intelligence sector, offering pioneering pricing intelligence solutions. This partnership with AirGain is poised to assist Thai Airways in refining its pricing strategies and maintaining its leadership in the fiercely competitive aviation industry. This collaborative effort will empower Thai Airways to pinpoint daily opportunities for growth, swiftly adapt to market dynamics, and provide competitively priced travel options appealing to a diverse clientele.
Commenting on the Partnership, Nuthaphol Amawatana, Head of Pricing and Revenue Management at Thai Airways , commented, “The dynamic nature of the aviation market necessitates access to precise and up-to-date market data. Our collaboration with AirGain aligns with our strategic goals, empowering us to make informed decisions based on robust data analytics. This partnership not only reinforces our competitive advantage but also reaffirms our status as the preferred airline for travelers to and from Thailand, leveraging our extensive network through Star Alliance.
” Vinay Varma, Senior Vice President and General Manager at AirGain shared his optimism about the partnership , “This alliance underscores the importance of building innovative pricing strategies by airlines, especially given Thailand’s growing appeal as a premier tourist destination. The need for such airlines to remain at the forefront of pricing strategy to attract global travelers is more pressing than ever. We are delighted with the opportunity and eager to contribute to Thai Airways’ journey towards pricing optimization and reinforcing its market leadership, ensuring it continues to meet the demands of international tourists and maintain its esteemed position.
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