Formulations of new strategies to ensure optimum ticket pricing in order to support airliners avoid losses and gain sustained profits in their operations
Abstract:
The overall aim of my research is to generate new feasible ticketing strategies to an airliner in order to improve the revenue of the airliner. This research involves in understanding the current ticketing strategies and the change in customers’ behavior with the change in prices. This research creates a value to the airliner as a company by making profits and no loss at a least scenario, even if the airliner operates with unoccupied seats.
Introduction:
The September 11 attacks left a major impact that the airline industry is yet to recover from. Extended recession and increasing oil prices are the other major factors affecting the growth of the airline industry. At this scenario, the airlines operating with unoccupied seats make huge losses and sometimes the airliner even goes bankrupt; for instance, the kingfisher airlines in India has gone bankrupt due to failure in managing the unoccupied seats and inefficient management in their ticket pricing strategies. Even the recent disappearances of aircrafts from Malaysian airlines have unfavorably affected the global airline industry leaving airlines operating with vacant seats.
It is very important for every airliner to create value for their shareholders; ticket pricing is the main source that an airliner can make revenue from. Therefore, airliners should have
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