Revenue management: The art and science of predicting real-time customer demand and optimizing the price and availability of products to match that demand.
Quote: In this economic model, he explained, Delta might offer more Basic Economy seats on lightly trafficked flights to try to win over price-sensitive travelers. They also use revenue-management models to take them away when they know they can sell the higher price seats. During the busy pre-Christmas week, for example, I found some routes without the Basic Economy class entirely, which returned in January.
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