Picture credit: Alexandre Doumenjou for Airbus
Through the partnership, both parties will pioneer advanced solutions in air cargo management with a focus on revenue management, dynamic pricing, revenue planning and sales budgeting, and the integration of Artificial Intelligence (AI) and Machine Learning (ML) solutions.
RTS will provide Oman Air Cargo with solutions including Foresight for revenue planning and sales budgeting, its pricing solution AcceleRate, and its Velocity revenue management solution.
Foresight allowed airlines to assess cargo value in schedules, establish revenue and sales targets and monitor progress.
AcceleRate helps airlines negotiate optimal AI/ML-based contract, spot and tariff rates, generating real-time rate sheets, and offer personalised dynamic pricing.
Velocity utilises advanced ML and AI algorithms to forecast short- and long-term capacity and demand, and evaluate each booking for optimal profitability.
Ahmed Al Amry, Chief Transformation Officer at Oman Air, says, “Our partnership with RTS represents a strategic investment in the future of our cargo business. As air cargo continues to play an increasingly important role in airline revenue, it's essential for us to leverage cutting-edge technologies to optimise operations, drive profitability and secure our long-term sustainability.”
Mukundh Parthasarathy, Senior Vice President of RTS, says, “By integrating our innovative solutions, Oman Air Cargo is poised to not only enhance operational efficiency but also unlock new avenues for increased revenues and profits. Together, we look forward to pushing boundaries, challenging norms, and driving sustainable growth in the dynamic aviation industry.”