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
The question before companies today is not whether to become intelligent, it’s a question of how and how fast. The key is to adopt and deploy an intelligent application strategy while simultaneously preparing to scale that intelligence. In her session at 21st Cloud Expo, Sangeeta Chakraborty, Chief Customer Officer at Ayasdi, provided a tactical framework to become a truly intelligent enterprise, including how to identify the right applications for AI, how to build a Center of Excellence to oper...
"IBM is really all in on blockchain. We take a look at sort of the history of blockchain ledger technologies. It started out with bitcoin, Ethereum, and IBM evaluated these particular blockchain technologies and found they were anonymous and permissionless and that many companies were looking for permissioned blockchain," stated René Bostic, Technical VP of the IBM Cloud Unit in North America, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Conventi...
Gemini is Yahoo’s native and search advertising platform. To ensure the quality of a complex distributed system that spans multiple products and components and across various desktop websites and mobile app and web experiences – both Yahoo owned and operated and third-party syndication (supply), with complex interaction with more than a billion users and numerous advertisers globally (demand) – it becomes imperative to automate a set of end-to-end tests 24x7 to detect bugs and regression. In th...
Large industrial manufacturing organizations are adopting the agile principles of cloud software companies. The industrial manufacturing development process has not scaled over time. Now that design CAD teams are geographically distributed, centralizing their work is key. With large multi-gigabyte projects, outdated tools have stifled industrial team agility, time-to-market milestones, and impacted P&L stakeholders.
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, discussed how by using ne...
"Cloud Academy is an enterprise training platform for the cloud, specifically public clouds. We offer guided learning experiences on AWS, Azure, Google Cloud and all the surrounding methodologies and technologies that you need to know and your teams need to know in order to leverage the full benefits of the cloud," explained Alex Brower, VP of Marketing at Cloud Academy, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clar...
Widespread fragmentation is stalling the growth of the IIoT and making it difficult for partners to work together. The number of software platforms, apps, hardware and connectivity standards is creating paralysis among businesses that are afraid of being locked into a solution. EdgeX Foundry is unifying the community around a common IoT edge framework and an ecosystem of interoperable components.
"CA has been doing a lot of things in the area of DevOps. Now we have a complete set of tool sets in order to enable customers to go all the way from planning to development to testing down to release into the operations," explained Aruna Ravichandran, Vice President of Global Marketing and Strategy at CA Technologies, in this SYS-CON.tv interview at DevOps Summit at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
In his session at 21st Cloud Expo, James Henry, Co-CEO/CTO of Calgary Scientific Inc., introduced you to the challenges, solutions and benefits of training AI systems to solve visual problems with an emphasis on improving AIs with continuous training in the field. He explored applications in several industries and discussed technologies that allow the deployment of advanced visualization solutions to the cloud.
"MobiDev is a software development company and we do complex, custom software development for everybody from entrepreneurs to large enterprises," explained Alan Winters, U.S. Head of Business Development at MobiDev, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Agile has finally jumped the technology shark, expanding outside the software world. Enterprises are now increasingly adopting Agile practices across their organizations in order to successfully navigate the disruptive waters that threaten to drown them. In our quest for establishing change as a core competency in our organizations, this business-centric notion of Agile is an essential component of Agile Digital Transformation. In the years since the publication of the Agile Manifesto, the conn...
In his session at 21st Cloud Expo, Carl J. Levine, Senior Technical Evangelist for NS1, will objectively discuss how DNS is used to solve Digital Transformation challenges in large SaaS applications, CDNs, AdTech platforms, and other demanding use cases. Carl J. Levine is the Senior Technical Evangelist for NS1. A veteran of the Internet Infrastructure space, he has over a decade of experience with startups, networking protocols and Internet infrastructure, combined with the unique ability to it...
Vulnerability management is vital for large companies that need to secure containers across thousands of hosts, but many struggle to understand how exposed they are when they discover a new high security vulnerability. In his session at 21st Cloud Expo, John Morello, CTO of Twistlock, addressed this pressing concern by introducing the concept of the “Vulnerability Risk Tree API,” which brings all the data together in a simple REST endpoint, allowing companies to easily grasp the severity of the ...
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...
While some developers care passionately about how data centers and clouds are architected, for most, it is only the end result that matters. To the majority of companies, technology exists to solve a business problem, and only delivers value when it is solving that problem. 2017 brings the mainstream adoption of containers for production workloads. In his session at 21st Cloud Expo, Ben McCormack, VP of Operations at Evernote, discussed how data centers of the future will be managed, how the p...