Forecasts Demand Quickly and Accurately for Ultra Low-Cost Carrier; Serves as Foundation to Accelerate Growth Over Time
PROS® (PRO), a provider of AI-powered solutions that optimize selling in the digital economy, today announced that Denver-based Frontier Airlines, an Ultra Low-Cost Carrier (ULCC) dedicated to providing affordable travel across America, has selected PROS Revenue Management Essentials (RM Essentials) to optimize its demand forecasting and ticket revenue production. With PROS, Frontier will be able to determine for each flight the optimal ticket revenue possible in light of competitors’ pricing, expected customer demand and other attributes – without additional complexity for its analysts.
With 200 planes on order and 34 new routes added in January 2019 alone, Frontier has aggressive corporate expansion plans for their current markets and to reach new markets every quarter. As a ULCC, Frontier experiences intense competition for each ticket sold based on price. The company realized a need for a solution with trusted AI that could sufficiently scale to look at each origin-destination pair and optimize market prices for each seat for any given flight accurately.
“Our ability to optimize revenue production is strengthened by accurately modeling the revenue potential of every flight,” said Louie Ligon, Director, Yield Management at Frontier. “With PROS RM Essentials, we anticipate a significant forecast improvement over our previous system. The new system will allow our analysts to more efficiently manage their demand forecasts. We will have a basis to better support the demands of new routes, manage the complexities of holiday and special event travel – and do so in a manner that allows us to meet the travel demands of today’s value-conscious travelers.”
RM Essentials is an AI-powered SaaS solution, allowing for a low barrier to adoption and ultimate flexibility for carriers looking to establish a foundational capability in demand forecasting. It features AI-based forecasting and optimization capabilities to deliver the optimal offer price, every time, even in the most volatile of markets. With powerful workflows analysts will be able to better understand historical trends and demand forecasts enabling them to quickly drill down to the information they need to make decisions confidently.
“Frontier operates in a very dynamic environment, and having a solution that revenue management leaders and analysts can rely upon to make accurate decisions that can withstand the pressure of a highly volatile market is critical to their business,” said Justin Jander, PM Manager, Revenue Management at PROS. “RM Essentials provides that trusted foundation that meets their needs today, and easily grows with Frontier as their business continues to rapidly scale.”
About PROS Revenue Management
For over three decades, PROS been at the forefront of airline revenue management. Built on a proven foundation of AI-powered forecasting and optimization, the PROS Revenue Management editions include: RM Essentials, RM Advantage and RM Ultimate. For more information on these solutions and other PROS Airline Solutions, visit www.pros.com/prosair.
PROS Holdings, Inc. (PRO) provides AI-powered solutions that optimize selling in the digital economy. PROS solutions make it possible for companies to price, configure and sell their products and services in an omnichannel environment with speed, precision and consistency. Our customers, who are leaders in their markets, benefit from decades of data science expertise infused into our industry solutions. To learn more, visit the PROS website or follow PROS on Twitter at @PROS_Inc.
This press release contains forward-looking statements, including statements about the functionality and benefits of AI-powered solutions to organizations generally as well as the functionality and benefits of PROS software products. The forward-looking statements contained in this press release are based upon PROS historical experience with AI-powered solutions and its current expectations of the benefits of AI-powered solutions for organizations that implement and utilize such software. Factors that could cause actual results to differ materially from those described herein include the addressability of an organization’s AI-powered solution needs, the risks associated with PROS developing and enhancing products with the functionality necessary to deliver the stated results and the risks associated with the complex implementation and maintenance of AI-powered solutions such as PROS software products. Additional information relating to the uncertainty affecting the PROS business is contained in PROS filings with the Securities and Exchange Commission. These forward-looking statements represent PROS expectations as of the date of this press release. Subsequent events may cause these expectations to change, and PROS disclaims any obligations to update or alter these forward-looking statements in the future whether as a result of new information, future events or otherwise.