TravelX

TravelX is a software company that gives airlines tools to earn more from seats after a ticket has been sold. Its main product is RmX, a post-booking revenue management system.

RmX helps airlines fill high-demand flights with higher-paying passengers. It estimates how much money a flight can earn and how willing passengers are to change. It then sends ticket buyback or flight swap offers to lower-paying passengers. The airline resells the freed seats to higher-paying travellers through its normal sales channels.

The system works in six steps. First, machine learning models study the airline's network and find flights likely to reach a full load. Second, an offer engine builds personal seat buyback and flight swap offers. Third, a notification engine decides which passengers get an offer, when, in what words and through which channel. Fourth, passengers accept the offer on a white label page that carries the airline's brand. Fifth, RmX syncs with the airline's reservation system and issues credits or vouchers as payment. Sixth, the airline resells the seats.

TravelX reports that airlines repurchase and resell four to six seats per managed flight. It also reports about two to three per cent more capacity and four to six per cent more revenue per managed flight. The company says more than one million seats have been repurchased and resold. It says an airline can go live in under eight weeks.

TravelX also offers a peer-to-peer feature. It lets passengers resell, transfer or gift their tickets inside a safe framework approved by the airline. This gives travellers more choice and gives airlines new ways to earn.

The company says every side gains. High-paying passengers can book last-minute flights. Lower-paying passengers receive compensation for their flexibility. Airlines improve yield by moving passengers to empty seats.

Services

• RmX post-booking revenue management
• Ticket buyback offers
• Flight swap offers
• Passenger notification engine
• White label offer pages
• Flight credit issuing
• Peer-to-peer ticket resale