Yield Management
Yield management is a pricing strategy used by airlines to maximize revenue by selling the right seat to the right customer at the right time. It involves analyzing data on past booking patterns, current demand, and market trends to determine the optimal price for each seat. Yield management also involves overbooking flights to account for no-shows and cancellations, as well as offering discounts to fill unsold seats close to the departure date. The goal of yield management is to sell as many seats as possible at the highest possible price, while still ensuring that the flight is profitable.
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