Executive summary

2020 is turning out to be a turbulent year for the entire travel industry, and airlines are no exception. Taking all the measures to minimize the impact is important, as is being ready to soar once more when people are ready to return to their routine and to travel again. At some point, air travel numbers will take off, but that will not necessarily convert into profit for airlines that don’t manage to streamline and optimize revenue capture. In travel, the line between success and failure is razor-thin – and the collapse of a number of airlines in 2019 illustrates the importance of future-proofing the travel business. Many airlines lag behind tech-first travel sites, and are under immense pressure to embrace change and revamp their complex legacy systems. Meanwhile, competition for new passengers and routes continues to intensify, serving as another key factor that impacts revenue streams and long-term profitability. This report delves into the latest trends in the industry, providing insights into keeping up with technology, protecting revenue, and continually improving customer experience. You’ll find insights on: 

The Digital Transformation

By embracing digital transformation, airlines can shift from simply solving the functional need of travel, to providing a more meaningful and personalized travel experience. With profit margins already tight, this transformation can be difficult to prioritize and execute. But if airlines successfully make the transition, they will not only grow sales in the long run, but also boost their brand – positioning themselves as innovators clearing the inefficiencies of online booking.

Expansion & Untapped Markets

Airlines are constantly competing to broaden their flight networks. When they fail to do so, they jeopardize their long-term revenue goals. But they may face new pain points when they expand operations without considering all of the risks. This report examines how airlines can safely introduce new flights as a competitive offering – without jeopardizing customer experience and taking on additional risk. 

Loyalty Programs

In order to build an effective loyalty program, it is crucial to offer options tailored to customers’ unique needs and preferences. This report highlights why airlines need to revamp their loyalty programs in order to future-proof their business and meet travelers’ increasingly sophisticated expectations. Airlines will not only need to introduce greater reward offerings, but more personalized ones. Unfortunately, such loyalty programs are likely to attract fraudsters as well. This report addresses how security around account takeover (ATO) attacks can either make or break a relationship with loyalty members.