LATAM Airlines Group and Sabre Corporation have announced the carrier’s adoption of Sabre Air Price IQ, a solution that is part of Sabre’s Retail Intelligence suite.

Powered by Sabre Travel AI technology, Air Price IQ allows airlines to generate relevant offers by analysing an airline’s own shopping and revenue management data in real time along with relevant marketplace insights.

It also enables airlines to bring their own pricing models and define business rules and strategies to set boundaries for airfare pricing.

Air Price IQ can also provide multiple benefits to airline customers like the optimisation of air prices to help drive higher conversion rates and improved returns by delivering more relevant offers across different channels as it utilizes artificial intelligence (AI) and advanced machine learning (ML) models.

“In today’s competitive marketplace, it is crucial to offer travelers a more relevant travel experience. Our partnership with Sabre can help us bring the right offers to the right travellers at the right time by using intelligent systems like Air Price IQ,” said Rosario Phillips, vice president of Customer and Commercial Solutions, LATAM Airlines Group.

“The flexibility and scalability of Sabre’s solution allows us to test and learn different pricing strategies, including using our own models, enabling us to move from static pricing to dynamic price, adapting quickly to fast-changing market conditions. It’s an important step towards the future we envision for dynamic offers.”

“LATAM has been a highly engaged partner that has collaborated in designing and providing feedback to our solution. We are excited to see the fruits and benefits of this partnership materializing with their adoption of Air Price IQ, as we share a commitment to innovation. The airline industry is constantly evolving, and airlines require intelligent systems to manage increased complexity and channel fragmentation to deliver a seamless, personalised experience to travellers while improving profitability,” said Darren Rickey, senior vice president, Global Airline Sales, Sabre Travel Solutions.

“Enabling airlines to dynamically price their airfares and offers based on the travellers’ propensity to purchase, customer profile or current market conditions is key, and requires intelligent systems that analyse large volumes of data at scale to deliver actionable insights.”Subscribe to the FINN weekly newsletter