Job Purpose :
- Ensure that revenue generation is optimized through the application of right pricing strategy and inventory allocation, for all distribution channels
- Support on all issues relating to reservation/booking systems
Key Accountabilities
Strategic Activities
- Design and own the revenue & route management strategy to optimize revenue generation, in line overall organizational targets
- Prepare tactical, customized revenue management strategies for to suit different distribution channels
Revenue & Route Management
- Keep track of competitor revenue and route management metrics
- Keep abreast of industry best practices on revenue management, best-in-class systems and tool, pricing analytics, etc.
- Lead teams to track and monitor revenue and passenger metrics; follow-up with team and other departments (as necessary) in case targets are not met
- Direct teams to periodically benchmark and monitor revenue & route strategy against competitors
- Direct and enable team to take decisions on maximizing revenue per flight
- Maintain routes in line with performance and budget expectations through the careful management of the fare-class system and provide input on inventory management of seat sales
- Regularly identify areas of revenue leakage and build tactical strategies to close the same
- Ensure revenue management, route & automation activities work in tandem to maximize revenue per flight in all scenarios
- Collaborate and interact with other Commercial Function Heads to ensure revenue management activities are in line with overall sales / channel strategies
Revenue Management System & Automation
- Provide guidance to team on resolution and support for reservation and booking system related queries
- Accountability for improving/automating revenue management process, pricing, forecasting models, systems, and tools; ascertain the implementation of AI/ML, predictive modelling, etc. in this area
Team Management
- Provide direction and tactical guidance on revenue & route management and automation decisions to the team as and when required
- Support, nurture and develop the team members’ skills required for revenue management, route management & automation
Any other additional responsibility could be assigned to the role holder from time to time as a standalone project or regular work. The same would be suitably represented in the Primary responsibilities and agreed between the incumbent, reporting officer and HR.
Skills Required for the role:
Team Management
Critical Thinking
Strong analytical abilities
Revenue management system expertise
Market awareness of tools and systems available
Key Interfaces
Leadership Interfaces
Senior Management
- Prepare detailed reports and suggestions to the senior Management on change in revenue management strategy in accordance with needs and requirements
Internal Interfaces
Commercial
- Collaborate and interact with other Commercial Function Heads to ensure revenue management and pricing activities are in line with overall sales / channel strategies
External Interfaces
Third Party Vendors/Suppliers
- Lead and manage the airline’s RM services and system suppliers to deliver targeted performance outcomes
Regulatory Authorities
- Oversee all RM contracts and agreements; ensure compliance with regulatory requirements
Educational and Experience Requirements
Masters/MBA/PGDM/PGP/PG degree, preferably in Finance or Economics
Minimum Requirement - 5-8 years of experience with Airlines or OTA .