FoxNews.com just had a very interesting article on the inner workings of pricing of airline tickets that changes moment by moment. It is based on an interview with an Airline Revenue Manager – the person who adjusts airfares throughout the day, depending on route, season, demand, supply, and other factors and supersedes the algorithms the computers use.
The article talks about dispelling myths on airline ticket pricing like the best days to buy tickets or the slowest days of travel so best days to fly and how the system of ever changing pricing we see – which can often contradict the sales and specials advertised we go hunting for – truly works.
The topics covered…
• Is there a best time of the day or best day of the week to buy airline tickets?
• What is your role as a revenue manager?
• Do ticket prices really change four times a day?
• Why do airlines advertise sales and then I can never find the tickets available at the stated price?
• Why are there so few award seats out there? Each time I try to use my miles, I cannot.
• Who is more profitable to you: a connecting passenger or a nonstop passenger?
For a short article, it is rather insightful with some valuable tidbits dropped in if you read carefully. Read the full story here.Like what you just read? Subscribe!