Oman Air Cargo Elevates Operations with RTS Cargo Suite: AI/ML Integration Boosts Revenue Management and Dynamic Pricing Strategies.
May 01 2024 - 8:46AM
Business Wire
Oman Air Cargo, a prominent Middle Eastern airline renowned for
its expansive global network spanning four continents, has embarked
on a transformative strategic partnership with Revenue Technology
Services (RTS) within the cargo division. This collaboration marks
a pivotal moment for both entities as they pioneer advancements in
air cargo management, with a focus on revenue management, dynamic
pricing, revenue planning / sales budgeting and the integration of
cutting-edge Artificial Intelligence (AI) and Machine Learning (ML)
solutions.
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Oman Air Cargo is set to revolutionize its cargo operations
through the deployment of RTS's state-of-the-art solutions,
including the groundbreaking Revenue Planning / Sales Budgeting
solution, Foresight, Pricing solution, AcceleRate,
and Revenue Management solution, Velocity. By leveraging
these innovative technologies, Oman Air Cargo aims to enhance its
competitiveness and operational efficiency within the dynamic air
cargo industry.
The integration of Foresight enables Oman Air Cargo to assess
cargo value in schedules, establish revenue and sales targets, and
monitor progress with precision. AcceleRate empowers the airline in
negotiating optimal AI/ML-based contract, spot, and tariff rates,
generating real-time rate sheets and offering dynamic personal
pricing capabilities. Velocity, utilizing advanced machine learning
and AI algorithms, forecasts both short-term and long-term capacity
and demand, evaluating each booking for optimal profitability.
These cutting-edge solutions will be hosted in RTS's private
cloud environment, ensuring a secure and scalable platform for Oman
Air Cargo's transformative journey.
Mr. Ahmed Al Amry, Chief Transformation Officer at Oman
Air, said: "Our partnership with RTS represents a strategic
investment in the future of our Cargo business. As air cargo
continues to play an increasingly important role in airline
revenue, it's essential for us to leverage cutting-edge
technologies to optimize operations, drive profitability and secure
our long-term sustainability.”
Raja Kasilingam, President of RTS, expressed his
enthusiasm about the partnership, emphasizing the significance of
dynamic pricing and AI/ML integration in the air cargo industry, "I
am personally very excited that Oman Air Cargo chose us as their
partner in leveraging RTS solutions embedded with the outcome of
our research and development in AI/ML to optimize their cargo
offerings to their customers." Mukundh Parthasarathy, Senior
Vice President for RTS, added, "We are thrilled to embark on
this transformative journey with Oman Air Cargo, as they choose our
Cargo Suite to elevate their operations. By integrating our
innovative solutions, Oman Air Cargo is poised to not only enhance
operational efficiency but also unlock new avenues for increased
revenues and profits. Together, we look forward to pushing
boundaries, challenging norms, and driving sustainable growth in
the dynamic aviation industry," highlighting the collaborative
commitment to challenging industry norms and propelling air cargo
operations into a new era of efficiency and profitability.
About Oman Air Cargo:
Oman Air (WY) began operations in 1993. Initially founded to
serve important domestic routes, it has since undergone rapid
growth and is today recognized as a major international carrier
connecting cities around the world to Oman’s stunning nature, rich
heritage and welcoming culture.
The award-winning airline has been instrumental in transforming
Muscat into one of the Middle East’s most desirable travel
destinations, while supporting adjacent commercial, industrial and
tourism activities. With a young and modern fleet including, among
others, fuel-efficient Boeing 737 and 787 Dreamliner aircraft,
which feature luxuriously appointed interiors, Oman Air is renowned
for its exceptional products and services, both in the air and on
the ground, and for the signature Omani hospitality it offers to
every guest throughout their journey.
About Revenue Technology Services (RTS):
Revenue Technology Services (RTS) is a leading provider of
AI/ML-powered solutions and services, empowering clients to boost
margins, enhance customer experiences, elevate employee
productivity, and foster growth. Specializing in the travel and
transportation sectors, RTS offers a comprehensive suite of
analytics, software solutions, consulting, and operations research
capabilities tailored for airlines, cruise ferries, and rail
industries across both passenger and cargo segments. From
scheduling to revenue management, pricing, revenue planning, and
sales budgeting, RTS delivers cutting-edge solutions aimed at
optimizing performance. Headquartered in Dallas, Texas, RTS
maintains a global presence with offices in Toronto, Canada;
London, UK; Cape Town, South Africa; and multiple locations across
India including Pune, Chennai, Hyderabad, Bengaluru, and
Chandigarh. For more information about RTS, please visit
www.rtscorp.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240501459771/en/
For media inquiries or further information, please contact:
Sheila Ruiz Marketing Communications RTS
Sheila.Ruiz@rtscorp.com