REVENUE MANAGEMENT AND PRICING WITH SIMULATION (Classroom, 4 days)
Explore the fundamentals and principles of airline revenue management (RM) through a combination of theory and hands-on practice, and validate your learning using our sophisticated airline revenue management simulator. Over 4 days, you will learn how to optimize airline revenue through pricing strategies, controls and forecasting.
The simulation exercises will immerse you into a realistic, risk-free environment where you will make decisions based on variables such as customer demand patterns (leisure vs. business travellers), individual RM system booking class hierarchy, and restricted and unrestricted fare structures. Your challenge is to optimize your revenue by analyzing KPIs generated in the simulator and take actions based on their evaluation.
The course will be delivered on 1-4 September 2020
- This classroom course provides 4 days (32 hours) of instruction delivered by an official IATA Instructor.
- Student performance will be based on an assessment
- There are no prerequisites for this course
- Recommended level is Entry-level
- The recommended level of language proficiency is ICAO Operational Level 4 for courses in English or the equivalent level for other languages.
What you will learn
Upon completing this course, you will be able to:
- Describe the fundamental RM methodologies
- Create fare structures
- Optimize revenue per flight
- Evaluate and choose the right revenue management alternatives
- Apply principles of performance monitoring to achieve revenue objectives
- Summarize demand characteristics
- Distinguish forecasting and optimization methodologies
- Track and monitor initiatives and policies
- Revenue management principles and processes
- Airline demand characteristics
- Airline pricing strategies
- Seat inventory control, determination of optimal seat allocations
- Revenue Management Systems: forecast and optimisation; application and limitation of revenue management systems
- Revenue management performance measurement
- Reporting, KPIs and analytical methods
- The revenue management organization