Oman Air Cargo partners with RTS to enhance revenue management
This collaboration aims to improve Oman Air Cargo's revenue planning by integrating AI/ML solutions.
Oman Air Cargo has partnered with Revenue Technology Services (RTS) in its cargo division to improve revenue management, dynamic pricing, and revenue planning/sales budgeting. The Middle Eastern airline, which began operations in 1993, will incorporate artificial intelligence (AI) and machine learning (ML) solutions to enhance its cargo operations and efficiency.
"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 optimise operations, drive profitability and secure our long-term sustainability," said Ahmed Al Amry, Chief Transformation Officer at Oman Air, in an official release.
Oman Air's cargo division will leverage RTS's solutions, including its revenue planning/ sales budgeting product – 'Foresight', which will allow Oman Air Cargo to access cargo value in schedules, establish revenue and sales targets and precisely monitor progress. RTS's pricing solution – 'AcceleRate', will empower the airline to strategically negotiate optimal AI/ML-based contract, spot, and tariff rates. It will also help Oman Air Cargo to generate real-time rate sheets and offer dynamic personal pricing capabilities.
By utilising RTS's revenue management solution, Velocity, Oman Air Cargo can forecast both short-term and long-term capacity and demand. It will also enable the airline to evaluate each booking for optimal profitability. These technology solutions will be hosted in RTS's private cloud environment, providing a secure and scalable platform for the Middle Eastern airline's journey ahead. Headquartered in Dallas, US, RTS provides AI/ML-powered solutions and services. Specialising in the travel and transportation sectors, RTS delivers solutions to optimise performance.
Raja Kasilingam, President at RTS, expressed his enthusiasm about the partnership, emphasising 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 optimise their cargo offerings to their customers."
In response, Mukundh Parthasarathy, Senior Vice President at 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."
