The South Korean low-cost carrier chose PROS’ industry-leading revenue management solution for its actionable insights and industry-leading forecasting capabilities
PROS® (PRO), a provider of AI-powered solutions that optimize selling in the digital economy, today announced that Jeju Air has selected PROS to strengthen its revenue management capabilities. PROS Revenue Management was chosen due to its intuitive functionality, scalability, accurate forecasting and insights, which Jeju Air will use to optimize revenue and support its business objectives.
Based in Seoul, South Korea, Jeju Air is a low-cost carrier that currently has 55 regular routes across 40 cities in the Asia-Pacific region with 37 aircraft. Planning for continued success over the next few years, Jeju Air recognized it would benefit from a strong revenue management system that was flexible and could handle its current and future business models and support its targeted growth.
“We needed a revenue management system that offered flexibility to support our short- and long-term goals,” said MyungSeop Yoo, Chief Commercial Officer of Jeju Air. “We selected PROS Revenue Management to help our company grow as we expand our destinations and fleet. Beyond its best-in-class technology, PROS will play a strategic role in training our team on the latest revenue management best practices, which will enable us to accelerate our growth.”
PROS Revenue Management combines the company’s revenue management expertise with automation to help airlines make confident decisions. It features science-based demand forecasting and optimization with decision support. PROS Revenue Management features specific functionality to benefit the LCC and point-to-point market, which leverages the strength of PROS Origin and Destination (O&D) network level capability.
“Jeju Air is the first and the largest low-cost carrier in South Korea,” said PROS Travel President Benson Yuen. “It required a solution that would continuously evolve along with its needs to provide the best options to customers while achieving profitable network growth. We are honored to help Jeju Air on its journey of delivering value and maximizing revenue.”
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.
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.