Low-cost carrier Viva Aerobus is implementing a generative artificial intelligence pricing engine (GPE) through a partnership with Fetcherr.
The Israel-based startup will enable “real-time pricing and direct fare publishing” to the Mexico-based Via Aerobus, according to a statement.
The statement adds that Fetcherr’s large market model “understands market dynamics” and can forecast demand to improve pricing decisions for airlines.
Fetcherr, a PhocusWire Hot 25 Travel Startup for 2023, said its latest enhancements mean its GPE kicks in when a search search query is made, which helps airlines convert sales on the website and improve revenue.
Subscribe to our newsletter below
Felix Velazquez, chief revenue officer for the carrier, said, “At Viva Aerobus, the sky’s not the limit, it is where we thrive. With Fetcherr’s generative pricing engine and large market model, we’re breaking barriers in the airline industry with an innovative way to automate dynamic pricing in real time through generative AI. As strong and sustained demand for air travel continues, our partnership with Fetcherr offers a major advantage in the industry that will revolutionize the way leading airlines set and publish prices.”
Roy Cohen, co-founder and CEO of Fetcherr, said, “We are committed to revolutionizing the way airlines price flights, and we are excited Viva Aerobus is equally determined to disrupt the industry by embracing new methods to enable real-time pricing and publishing and optimize revenue. Up until now, we’ve been pricing fares a few times a day, and our airline partners have seen significant increases in revenue from this approach. Now we’re able to price the entire network at the time a search query is made. With real-time pricing, the potential for increased revenue is unprecedented. We are working alongside Viva Aerobus to help the airline fully and seamlessly automate and enhance its operations and revenue using our AI-driven real-time pricing technology.”
Last year Fetcherr announced partnerships with Royal Air Maroc and Virgin Atlantic. The startup also landed $12.5 million in Series B funding.
