Croatia Airlines and Sabre Corporation (NASDAQ: SABR) the leading technology provider to the global travel industry, today announced the renewal of their long-standing partnership. The Croatian flag carrier has been using Sabres revenue management product for more than four years and with this renewal, the carrier will upgrade to Sabre AirVision Revenue Optimizer, Sabres industry-leading revenue optimization solution.
In todays fast-moving, competitive marketplace, setting a price for a product is one of the most important decisions an airline can make. Sabres revenue optimization suite of technology solutions helps airlines to take a 360-degree approach to forecasting, analyzing, and optimizing their revenue streams, by providing real-time visibility into the total revenue for every flight, every market and every departure date. The product offering is designed to allow airlines to make the most of their inventory and help break down data silos that may exist across the airline enterprise.
At the core of the holistic product bundle is Revenue Optimizer, a real-time revenue management solution that leverages intelligent decision support to recommend availability, based on segmentation, customer choice-based demand forecasting and competitive intelligence. Sabre studies have shown that Revenue Optimizer can increase revenue by up to five percent, as well as bringing a significant reduction in processing time. Revenue Optimizer offers real-time data insight through seamless integration with inventory, fares, and pricing optimization solutions. Complementing the revenue optimization package, is Sabre AirVision Revenue Integrity, which helps airlines drive additional revenue by limiting problem bookings and increasing aircraft seat utilization.
We are laser-focused on delivering a premium passenger experience and that is much easier if our bottom line is healthy, said Jasmin Bajić, President and CEO of Croatia Airlines. It is essential that we protect our revenue by setting the right price and maximizing the number of seats sold. Sabres state-of-the-art revenue optimization solutions are key to making this happen by providing us with actionable insights based on customer demand, competitive landscape and a myriad of other factors.
Celebrating its 30th anniversary in 2019, Croatia Airline maintains a flight network of 38 destinations across 24 countries. In 2018, the carrier flew a record number of 2,168,863 passengers an increase of two percent compared to 2017. The airline is a powerful promoter of Croatia as a travel destination, which welcomed more than 18 million tourists in 2018.
Its hardly a secret that commercial aviation is a highly competitive business characterized by tight margins, said Alessandro Ciancimino, vice president, Airlines Sales, Europe, Sabre Travel Solutions. Realizing every opportunity to maximize revenue intelligently is crucial for an airlines long-term success. We are delighted that Croatia Airlines will continue to leverage our industry-leading revenue optimization solutions to fuel its future growth.
About Sabre Corporation
Sabre Corporation is the leading technology provider to the global travel industry. Sabre's software, data, mobile and distribution solutions are used by hundreds of airlines and thousands of hotel properties to manage critical operations, including passenger and guest reservations, revenue management, flight, network and crew management. Sabre also operates a leading global travel marketplace, which processes more than US$120 billion of global travel spend annually by connecting travel buyers and suppliers. Headquartered in Southlake, Texas, USA, Sabre serves customers in more than 160 countries around the world.
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