As reported throughout the industry, and recently within The Business Travel Magazine, it's widely predicted for 2019 that airlines are forecast to increase their airfares by around 2% and as a result companies need to be prepared to either budget for this or be looking at ways to mitigate the impact of price rises.
This is something Good Travel Management recognised some time ago as part of how we help our clients manage their budgets and get the best value from the air travel spend. Part of this was to invest in its own in-house Fares Analyst and supporting Fares Team, working alongside the expertise of our business travel consultants. The Fares department are responsible for managing and negotiating airline contracts, which sits alongside the global purchasing power we have through our membership of UNIGLOBE, whilst developing software to create ease of access to wider content in both the business and leisure market.
With a focus on innovation and new technology, as well as our own experience and expertise, the department co-developed in-house software and tools to identify fluctuations in fares, even after ticketing, providing competitiveness, value and flexibility through a managed approach. With 24 hr software running in the background, alongside a manned fares desk supporting operational teams with a high level of experience, these benefits are bearing fruit for our customers.
2018 saw Good Travel Management bring record savings to its client base over a 12 month period, particularly in the long haul market and means that Good Travel Management are now even better equipped to support any impact of pricing increases expected across the industry.