What is airfare price tracking?
Airfare price tracking scans ticket prices for net reductions in price for flights that have already been booked, it looks for these price drops so that the ticket can be cancelled and rebooked at a lower price.
Companies typically require their travelers make reservations according to a strict set of predefined rules called included in a travel policy in order to manage costs. New technologies now enable considerable savings after the reservation, and after the void window right up until departure.
Airlines often change their pricing at daily and sometimes hourly intervals in order to manage the load factor of their flights and to maximize the total revenue they receive.
Companies such as FairFly offer services where tickets are tracked for price drops after booking. Even with semi-flexible fares, the net amounts reclaimed by Travel Managers can reach thousands of dollars on long-haul flights.
Airfare price tracking is a non-disruptive technology that connects to a company’s existing TMC and the GDS. In 99.99% of cases, the traveler does not even notice when they are rebooked on the same flight, in the same cabin. Travel Managers of large organizations see millions of dollars of cost avoidance per year using this technology.