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PRESS RELEASE
FOR IMMEDIATE RELEASE: May 9, 2023
Javier Jiménez, COO
Airnguru
Airnguru Launches New-Gen Automation & Orchestration Engine "Pantheon" to Revolutionize Airline Commercial Strategies
Powerful new tool increases productivity and dramatically reduces time-to-market for airlines
Santiago, Chile, May 5, 2023. Airnguru announced the launch of Pantheon, a groundbreaking automation engine that empowers airlines to orchestrate and scale their commercial strategies. Pantheon handles all necessary connectivity to the airlines' ecosystem, integrates all inputs, distributes all outputs to legacy or new-gen instances, and securely hosts and protects the airlines' proprietary algorithms that reflect their strategy.
Thanks to a collaboration with Avianca, the second-largest airline in Latin America, Pantheon is not just an idea but a proven solution. The first high-impact use case for Pantheon is the automation of reactive pricing. After running this use case for a couple of months, the results have been astonishing: a 70% overall reduction (and a 90% reduction in their domestic markets) in the airline's time to react to competitors' price actions ("TTM" or time-to-market). Over a time window of 14 weeks, the ratio of Avianca's TTM over their main competitor's dropped from 150% to 45%.
In the words of Javier Jiménez, COO and co-founder of Airnguru: "Pantheon is a game changer in this industry where most airlines share the same algorithms and tools, and those tools do not scale but consume most of the time of smart analysts performing tedious tasks. Pantheon is a first-of-its-class strategic orchestrator that offers a new level of automation and has been a vision for several years. Now it is finally producing high-impact results for one of our customers."
Rodrigo Rioseco, VP of Revenue Management of Avianca, said, "We are very enthusiastic about this collaboration. Airnguru has been a great partner for innovation because they know how to execute in the complex airline industry. The travel demand is back at full intensity. Thanks to Pantheon, the productivity of our Pricing teams has risen substantially. Most importantly, one of our key performance metrics, the time-to-market, has improved dramatically, positively impacting market leadership, price positioning, and revenue."
The pandemic deeply impacted airlines; they lost a significant part of their revenues and a substantial portion of their talent, now working elsewhere. According to Sergio Mendoza, CEO and co-founder of Airnguru, "Travel demand is back, but it will take time for airlines to rebuild their talent to the pre-pandemic levels. That is why Pantheon is such good news for airlines. Pantheon not only boosts airlines' productivity but also supports commercial innovation securing backward compatibility. We are seeing much interest from airlines to try this new technology, and we are thrilled to be able to contribute to their productivity and competitiveness."
About Airnguru
Founded in 2015 by airline revenue management and big data experts, Airnguru is a cloud-native provider of commercial systems that helps airlines optimize their pricing strategies. Airnguru launched the first comprehensive pricing intelligence solution in the market in 2017, and since then, it has quickly positioned its airline pricing technology as best-in-class. Offering a broad suite of solutions across pricing intelligence, price execution, and price automation, Airnguru has already added six international airlines to its customer list, which are benefiting from its innovation to boost their productivity, minimize their time-to-market, eliminate pricing errors, optimize their pricing strategies and increase their revenue. You may find more information about Airnguru at www.airnguru.com.
About Avianca
AVIANCA includes Avianca -Star Alliance member-, LifeMiles and Avianca Cargo. In passenger transportation and with more than 103 years of continuous operation since 1919, Avianca is the leading airline in Colombia, Ecuador, Central America and has one of the largest airline operations in Latin America with 130 routes, 3,800 weekly flights and a fleet of more than 130 Airbus 320 and Boeing 787 Dreamliner aircraft, connecting to around 70 destinations in the Americas and Europe. More than 11,9 million members and 450 allied brands are part of its loyalty program, LifeMiles, one of the largest in the region. In cargo transportation, Avianca Cargo is a leader in the region and is the main airline in different markets in the Americas. It serves more than 50 destinations with a fleet of Airbus A330 freighters, along with its operation of passenger aircraft bellies. More information is available at www.avianca.com