Korean Air has overhauled its pricing model by deploying a revenue management system from IBS Software, which it hopes will improve yields and boost profitability.
The revenue management system is part of IBS Software’s iCargo platform and will allow the airline to “determine the selling price of capacity and ensure maximum profitability per shipment carried”.
IBS developed the revenue management solution as an extension of its iCargo cloud platform deployed earlier this year by Korean Air.
IBS also rolled out its new sales app mobility module for Korean Air. This provides real-time access to customer profiles, customer analytics and capacity predictions.
In addition, several new automation tools were also introduced for terminal operations at Incheon Airport, the hub of Korean Air cargo operations.
Ashok Rajan, senior vice president and head of airline cargo services, IBS Software, said: “The addition of revenue management to the iCargo platform is an exciting new development in our mission to support airlines all over the world generate maximum value from their operations and gain a competitive edge. We are proud to be associated with an industry stalwart like Korean Air in this journey.”