Oman Air Cargo, a prominent Middle Eastern airline renowned for its expansive global network spanning four continents, has embarked on a transformative strategic partnership with Revenue Technology Services (RTS) within the cargo division.
This collaboration marks a pivotal moment for both entities as they pioneer advancements in air cargo management. They focus on revenue management, dynamic pricing, revenue planning/sales budgeting, and the integration of cutting-edge Artificial Intelligence (AI) and Machine Learning (ML) solutions.
READ: Pattaya Airways takes flight with first ATR 72-500 freighter
Oman Air Cargo is set to revolutionize its cargo operations by deploying RTS’s state-of-the-art solutions, including the groundbreaking Revenue Planning / Sales Budgeting solution, Foresight, Pricing solution, AcceleRate, and Revenue Management solution, Velocity. By leveraging these innovative technologies, Oman Air Cargo aims to enhance its competitiveness and operational efficiency within the dynamic air cargo industry.
The integration of Foresight enables Oman Air Cargo to assess cargo value in schedules, establish revenue and sales targets, and monitor progress with precision. AcceleRate empowers the airline to negotiate optimal AI/ML-based contract, spot, and tariff rates, generate real-time rate sheets, and offer dynamic personal pricing capabilities. Utilizing advanced machine learning and AI algorithms, Velocity forecasts both short-term and long-term capacity and demand, evaluating each booking for optimal profitability.
These cutting-edge solutions will be hosted in RTS’s private cloud environment, ensuring a secure and scalable platform for Oman Air Cargo’s transformative journey.
Mr Ahmed Al Amry, Chief Transformation Officer at Oman Air, said: “Our partnership with RTS represents a strategic investment in the future of our Cargo business. As air cargo plays an increasingly important role in airline revenue, we need to leverage cutting-edge technologies to optimize operations, drive profitability and secure our long-term sustainability”.
READ: Martinair Cargo transports two lions to South Africa
Raja Kasilingam, President of RTS, expressed his enthusiasm about the partnership, emphasizing the significance of dynamic pricing and AI/ML integration in the air cargo industry, “I am personally very excited that Oman Air Cargo chose us as their partner in leveraging RTS solutions embedded with the outcome of our research and development in AI/ML to optimize their cargo offerings to their customers.”
Mukundh Parthasarathy, Senior Vice President for RTS, added, ” We are thrilled to embark on this transformative journey with Oman Air Cargo, as they choose our Cargo Suite to elevate their operations. By integrating our innovative solutions, Oman Air Cargo is poised to enhance operational efficiency and 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,” highlighting the collaborative commitment to challenging industry norms and propelling air cargo operations into a new era of efficiency and profitability.
