Viva Aerobus Partners with Fetcherr to Implement Generative AI Pricing Engine for Real-Time Pricing and Publishing of Fares | State
Viva Aerobus disrupts the airline industry by bringing on Fetcherr’s first-of-its-kind Generative PricingEngine and Large Market Model technology, offering the most sophisticated real-time pricing and direct publishing to support revenue generation
TEL AVIV, ISRAEL / ACCESSWIRE / May 30, 2024 / Fetcherr, the tech startup that developed the first generative AI pricing, inventory and publishing engine, has partnered with Viva Aerobus, Mexico’s ultra-low-cost airline, to implement its Generative Pricing Engine (GPE) and Large Market Model (LMM). Through this industry-leading partnership, Viva Aerobus will leverage Fetcherr’s cutting-edge technology to enable real-time pricing and direct fare publishing.
Fetcherr’s LMM is the industry’s first AI-driven market engine that understands market dynamics, precisely forecasts demand and market trends, and generates the best market moves based on the predicted actions of all market variables. The technology enables uniquely granular high-frequency pricing, inventory management, and direct publishing capabilities in one complete system that fully automates processes – from pricing to publishing – to optimize operations, streamline workflows by directly publishing fares to the airline’s website in real-time, and support revenue generation.
With Fetcherr’s latest innovations, the AI company is able to implement its GPE to output a recommended price at the time a search query is made, achieving real-time pricing – a turnkey technology milestone and a highly coveted capability in the airline industry. Viva Aerobus completes a majority of its sales directly from its website, which provides an ideal opportunity for Fetcherr to price fares in real-time and publish them directly to the airline’s website to support its revenue generation.
Felix Velazquez, Chief Revenue Officer at Viva Aerobus said: “At Viva Aerobus, the sky’s not the limit, it is where we thrive. With Fetcherr’s Generative Pricing Engine and Large Market Model, we’re breaking barriers in the airline industry, with an innovative way to automate dynamic pricing in real time through generative AI. As strong and sustained demand for air travel continues, our partnership with Fetcherr offers a major advantage in the industry that will revolutionize the way leading airlines set and publish prices.”
“We are committed to revolutionizing the way airlines price flights, and we are excited Viva Aerobus is equally determined to disrupt the industry by embracing new methods to enable real-time pricing and publishing and optimize revenue,” said Roy Cohen, CEO and Co-Founder at Fetcherr. “Up until now, we’ve been pricing fares a few times a day, and our airline partners have seen significant increases in revenue from this approach. Now, we’re able to price the entire network at the time a search query is made. With real-time pricing, the potential for increased revenue is unprecedented. We are working alongside Viva Aerobus to help the airline fully and seamlessly automate and enhance its operations and revenue using our AI-driven real-time pricing technology.”
Viva Aerobus today joins Fetcherr’s global network of airline partners, which includes London-based Virgin Atlantic, Brazil-based Azul Airlines, Morocco-based Royal Air Maroc.
About Fetcherr
Fetcherr is an Algo based company that engineered a unique agnostic AI-driven market engine. This advanced LMM (Large Market Model) understands the market dynamics and precisely forecasts demand and market trends, enhancing performance and enabling real-time business decision-making. Founded in 2019 by experts in deep learning, Algo-trading, e-commerce and digitization of legacy architecture, Fetcherr aims to disrupt traditional, rule-based (legacy) revenue systems through deep learning methodologies, beginning with the airline industry. For more information, please visit www.fetcherr.io.
About Viva Aerobus
Viva Aerobus is Mexico’s ultra-low-cost airline. It started operations in 2006 and today it operates one of the youngest fleets in Latin America with 83 Airbus: 45 Airbus A320 and 38 Airbus A321. With a clear vision to give all people the opportunity to fly, Viva Aerobus has democratized the airline industry with the lowest fares in Mexico and the lowest cost structure in America, making their flights the best value offer. For more information please visit: www.vivaaerobus.com.
Media Contact:
Carinna Gano
SOURCE: Fetcherr
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