November 2008
Beginner
448 pages
11h 33m
English
Content preview from Budgeting Basics and Beyond
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23.1. Airlines
Airlines face a problem of perishable services. Airlines have systems known as yield management systems that constantly adjust what fares are available and the number based on sales. For example, if an airline ' s Los Angeles - to - New York seats are selling very briskly, the system will severely limit or eliminate discounted seats. However, the inverse is also true; if a flight is selling slowly, the amount of discounted fares available will increase to stimulate sales. The goal of the yield management system is to maximize revenue, taking into account that if the seat goes unsold, it is a lost revenue opportunity.
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