RateGain Travel Technologies advanced 2.77% to Rs 294.45 after the company entered into a partnership with Air India to provide AirGain product to dynamically adjust prices with real-time, accurate, and high-quality airfare data.
AirGain is an innovative SaaS-based airfare pricing intelligence product designed to enhance the revenue & operational efficiency of the airlines. The company said AirGain offers actionable insights to quickly react to market price change and stay ahead of the competition through its scalable and intuitive analytical capabilities. Airlines gain competitive intelligence by analyzing market data in real-time.In addition, AirGain's ability to track historical trends and track fare changes on the most-profitable routes makes it easy for revenue and commercial teams to stay on top of every market development, RateGain added.
Commenting on the partnership, Aruna Gopalakrishnan, executive director of corporate affairs said, Air India is focused on becoming one of the most competitive airlines in the world and technology will play a big role in it. RateGain is known for helping the world's largest travel companies, and is expected to be playing a role in making Air India the preferred choice of traveller.
Bhanu Chopra, founder and chairman at RateGain added, On the occasion of India completing 75 years of Independence, India's first global brand, Air India is transforming itself, just like the rest of India to compete with the best in the world. The team at RateGain is honored to be associated with this iconic brand. AirGain represents the change that the airline industry and its pricing teams are making to counter global volatility and we are certain that our insights will help Air India achieve the same.
As a flagship carrier, the Tata-owned airline Air India offers connections to close to 90 destinations to over 30 countries across Asia, Europe, USA, Canada and Australia operating one of the largest domestic and international networks in the world. It maintains a fleet of 113 aircraft operating over 500 daily flights.
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RateGain Travel Technologies is a global provider of SaaS solutions for travel and hospitality that works with over 2200+ customers in over 100+ countries helping them accelerate revenue generation through acquisition, retention and wallet share expansion.
The company reported net profit of Rs 8.42 crore as against a net loss of Rs 1.38 crore in Q1 FY23 over Q1 FY22. Net sales rose 59.2% YoY to Rs 119.30 crore in the quarter ended 30 June 2022.
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