Welcome!

News Feed Item

Yapta Reveals New Data on the Volatility of Corporate Airfares

Yapta, the developer of FareIQ, the corporate travel industry’s only independent airfare price tracking solution, today published the findings of a benchmark study examining corporate airfare prices tracked by FareIQ across 34 large and mid-size corporations. The findings offer unprecedented insight into corporate airfare pricing – including the types of corporate fares that have the greatest volatility, when corporate fares are most likely to drop in price, and which origin cities and airlines experience the most significant price fluctuations.

“We conducted this study in an effort to provide actionable insights into airline pricing that will help corporate travel managers better manage their T&E budgets, and travel management companies provide enhanced client services,” said James Filsinger, Yapta President & CEO. “The results were quite illuminating, offering a unique view into the lifecycle of various corporate fares – and identifying the windows of time and fare characteristics where prices are most likely to fluctuate.”

The study looked at corporate air travel itineraries from July 2013 to December 2013, revealing pricing volatility around various ticket classes, specific days of the week, airlines, and origin cities. The study also examined price volatility both inside and outside of void windows, and inside and outside of normal business hours. Lastly, the study also compared volatility across penalty versus non-penalty fares, negotiated rates against public fares, and tickets over and under $500.

A number of key findings were revealed by the study:

  • Corporate flights originating from San Francisco, New York (JFK) and Denver showed the greatest proportion of price volatility, while flights from New York (LGA), Houston and Minneapolis were least volatile in price.
  • Airlines with the greatest proportion of business airfare price volatility included British Airways, Air France, Lufthansa and American Airlines. Alaska Airlines and US Airways indexed the lowest proportion of price volatility.
  • The most frequent airfare price drops occurred early in the week, specifically on Tuesdays (21%) and Wednesdays (19%).
  • The average net identified savings (defined as savings available less airline change fees and associated travel management company change fees) was $306 per ticket for those over $500. For tickets under $500, the average net identified savings was $58 per ticket.
  • 73% of all price changes in the data set were on negotiated fare bookings. The average net identified savings alerts (defined as savings available less airline change fees and associated travel management company change fees) were $204 on negotiated rate fares, and $291 on public rate fares.
  • 46% of price drops occur within the business travelers’ standard business hours, while 54% occur outside of business hours.
  • 68% of price drop “alerts” (defined as notifications when savings on identical itineraries are significant enough to reticket) issued by FareIQ were for tickets in different classes of service within the originally ticketed cabin, and 32% were for the same class of service in the same cabin.
  • 60% of total dollar savings opportunities (as measured in dollars) occurred inside of the void window, during which rebookings could be made without penalties. The remaining 40% were outside the void window.
  • 78% of tickets with savings opportunities (measured in number of tickets) were inside of the void window, and 22% were outside of the void window.
  • 87% of penalty ticket “alerts” were sent within the void window – while 13% were outside of the void window. Meanwhile, 40% of non-penalty tickets that were eligible for saving were within the void window – while 60% of non-penalty tickets that were eligible for savings were outside of the void window.

How FareIQ Works
FareIQ’s patent-pending Intelligent Price Tracking™ technology provides in-depth, 24x7 analysis and insights into corporate airfares, spotlighting opportunities to re-book tickets at lower prices, saving corporations crucial T&E dollars on a daily basis. The solution integrates seamlessly with agents’ workflows by dynamically monitoring pricing on individual passenger name records (PNRs) that are placed on a queue by the corporation or its travel management company. Upon recognizing a savings opportunity, FareIQ immediately issues a series of messages, including email alerts, a FareIQ web portal notification, and remarks posted directly in the PNR, that enables those savings to be acted upon by an agent or a travel manager.

FareIQ has proven to be very successful at identifying savings opportunities for corporations, including:

  • Savings opportunities on 11.2% of all itineraries tracked
  • When savings are found, the average savings are $260 per ticket, even after accounting for airline change fees and TMC/agent rebooking fees
  • Customers recognize an average savings per ticket of 14.4%

For more detail on the FareIQ benchmark study, please visit: http://bit.ly/1ja4X2q.

About Yapta
Yapta is a pioneer in airfare price assurance services for travelers, and the developer of FareIQ, the corporate travel industry’s only independent airfare price tracking solution. Launched in 2007 as the travel industry’s first airfare price tracking and refund alert service, Yapta quickly gained more than 1 million registered members and delivered more than $450 million in airfare savings alerts to consumers. Today, Yapta’s technology is helping companies with heavy travel volumes reduce their spend and extend their T&E budget by constantly tracking booked airfares and flagging lower rates when they become available. For more information about Yapta, visit www.yapta.com. To learn more about FareIQ, visit fareiq.yapta.com.

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
In a recent survey, Sumo Logic surveyed 1,500 customers who employ cloud services such as Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform (GCP). According to the survey, a quarter of the respondents have already deployed Docker containers and nearly as many (23 percent) are employing the AWS Lambda serverless computing framework. It’s clear: serverless is here to stay. The adoption does come with some needed changes, within both application development and operations. Tha...
Enterprises are adopting Kubernetes to accelerate the development and the delivery of cloud-native applications. However, sharing a Kubernetes cluster between members of the same team can be challenging. And, sharing clusters across multiple teams is even harder. Kubernetes offers several constructs to help implement segmentation and isolation. However, these primitives can be complex to understand and apply. As a result, it’s becoming common for enterprises to end up with several clusters. Thi...
Data scientists must access high-performance computing resources across a wide-area network. To achieve cloud-based HPC visualization, researchers must transfer datasets and visualization results efficiently. HPC clusters now compute GPU-accelerated visualization in the cloud cluster. To efficiently display results remotely, a high-performance, low-latency protocol transfers the display from the cluster to a remote desktop. Further, tools to easily mount remote datasets and efficiently transfer...
Though cloud is the future of enterprise computing, a smooth transition of legacy applications and systems is critical for seamless business operations. IT professionals are eager to start leveraging the cost, scale and other benefits of cloud, but with massive investments already in place in existing infrastructure and a number of compliance and resource hurdles, it can be challenging to move to a cloud-based infrastructure.
SYS-CON Events announced today that Avere Systems, a leading provider of enterprise storage for the hybrid cloud, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Avere delivers a more modern architectural approach to storage that doesn't require the overprovisioning of storage capacity to achieve performance, overspending on expensive storage media for inactive data or the overbui...
Containers are rapidly finding their way into enterprise data centers, but change is difficult. How do enterprises transform their architecture with technologies like containers without losing the reliable components of their current solutions? In his session at @DevOpsSummit at 21st Cloud Expo, Tony Campbell, Director, Educational Services at CoreOS, will explore the challenges organizations are facing today as they move to containers and go over how Kubernetes applications can deploy with lega...
SYS-CON Events announced today that Avere Systems, a leading provider of hybrid cloud enablement solutions, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Avere Systems was created by file systems experts determined to reinvent storage by changing the way enterprises thought about and bought storage resources. With decades of experience behind the company’s founders, Avere got its ...
Amazon is pursuing new markets and disrupting industries at an incredible pace. Almost every industry seems to be in its crosshairs. Companies and industries that once thought they were safe are now worried about being “Amazoned.”. The new watch word should be “Be afraid. Be very afraid.” In his session 21st Cloud Expo, Chris Kocher, a co-founder of Grey Heron, will address questions such as: What new areas is Amazon disrupting? How are they doing this? Where are they likely to go? What are th...
Today most companies are adopting or evaluating container technology - Docker in particular - to speed up application deployment, drive down cost, ease management and make application delivery more flexible overall. As with most new architectures, this dream takes significant work to become a reality. Even when you do get your application componentized enough and packaged properly, there are still challenges for DevOps teams to making the shift to continuous delivery and achieving that reducti...
As hybrid cloud becomes the de-facto standard mode of operation for most enterprises, new challenges arise on how to efficiently and economically share data across environments. In his session at 21st Cloud Expo, Dr. Allon Cohen, VP of Product at Elastifile, will explore new techniques and best practices that help enterprise IT benefit from the advantages of hybrid cloud environments by enabling data availability for both legacy enterprise and cloud-native mission critical applications. By rev...
The next XaaS is CICDaaS. Why? Because CICD saves developers a huge amount of time. CD is an especially great option for projects that require multiple and frequent contributions to be integrated. But… securing CICD best practices is an emerging, essential, yet little understood practice for DevOps teams and their Cloud Service Providers. The only way to get CICD to work in a highly secure environment takes collaboration, patience and persistence. Building CICD in the cloud requires rigorous ar...
Recently, REAN Cloud built a digital concierge for a North Carolina hospital that had observed that most patient call button questions were repetitive. In addition, the paper-based process used to measure patient health metrics was laborious, not in real-time and sometimes error-prone. In their session at 21st Cloud Expo, Sean Finnerty, Executive Director, Practice Lead, Health Care & Life Science at REAN Cloud, and Dr. S.P.T. Krishnan, Principal Architect at REAN Cloud, will discuss how they b...
SYS-CON Events announced today that SkyScale will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. SkyScale is a world-class provider of cloud-based, ultra-fast multi-GPU hardware platforms for lease to customers desiring the fastest performance available as a service anywhere in the world. SkyScale builds, configures, and manages dedicated systems strategically located in maximum-security...
As you move to the cloud, your network should be efficient, secure, and easy to manage. An enterprise adopting a hybrid or public cloud needs systems and tools that provide: Agility: ability to deliver applications and services faster, even in complex hybrid environments Easier manageability: enable reliable connectivity with complete oversight as the data center network evolves Greater efficiency: eliminate wasted effort while reducing errors and optimize asset utilization Security: imple...
High-velocity engineering teams are applying not only continuous delivery processes, but also lessons in experimentation from established leaders like Amazon, Netflix, and Facebook. These companies have made experimentation a foundation for their release processes, allowing them to try out major feature releases and redesigns within smaller groups before making them broadly available. In his session at 21st Cloud Expo, Brian Lucas, Senior Staff Engineer at Optimizely, will discuss how by using...