Fare Pricing
Fare pricing is the process of determining the cost of a ticket for air travel. It involves a complex system of algorithms and market analysis to determine the optimal price for a particular flight. Factors that are taken into consideration include the time of year, the popularity of the destination, the competition on the route, and the cost of fuel. Airlines use a variety of pricing strategies, including dynamic pricing, which adjusts the price of a ticket in real-time based on demand, and yield management, which involves setting different prices for different classes of seats based on demand and availability. The goal of fare pricing is to maximize revenue while filling as many seats as possible.
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