Skytra, the wholly owned subsidiary of Airbus, reveals today that the second key data provider to its unique flight ticketing database is the online travel platform Kiwi.com. Price checks from Kiwi.com help power Skytra’s unrivalled market intelligence for an air travel industry that is hungry for insights as it navigates the COVID-19 pandemic.
Kiwi.com generates more than 20 billion price checks per day on its online platform and those of its partners, fed by connections to Global Distribution Systems (GDS) and direct Application User Interfaces (APIs) with most airlines worldwide.
Skytra has developed a unique method, for which a patent is pending, to match the offered ticket pricing from Kiwi.com with complementary transaction data received from the International Air Travel Association (IATA). The resulting flight ticketing information database is the world’s largest, allowing Skytra to take individual ticket-level detail and aggregate it into insightful data for air travel companies and financial institutions.
Leveraging the depth and breadth of its database, Skytra has built a suite of data-led intelligence tools covering airline revenue, pricing and forward bookings – areas where the market has traditionally had limited visibility – which can be tailored to customer needs. The new product line, called Airtyx, draws from the Skytra database which covers flights provided by hundreds of airlines globally, giving granular insights to airline revenue managers, investors and analysts on future company performance relative to industry peers. Airports and tourism organisations can harness Skytra’s ticket level data for improved resources and facilities planning as COVID-19 travel restrictions ease.
Skytra anticipates that the UK’s Financial Conduct Authority will decide, in the third quarter, on its application to be the regulated Benchmark Administrator for the family of global air travel Price Indices that it has developed. The company’s ambition is to enable the air travel industry to manage revenue risk for the first time through a new class of financial instruments priced by these indices.
Mark Howarth, Skytra CEO commented: “Kiwi.com’s price checks are a key data input which helps make our ticketing database so unique and powerful. COVID-19’s devastating impact on the air travel industry has created a huge appetite for the granular data and insights our new business intelligence product – Airtyx – can provide. More longer term, the pandemic has highlighted the urgency of bringing risk management tools to market as the air travel industry starts to re-build.”
Oliver Dlouhý, Kiwi.com CEO commented: “We originally built our unique flight data acquisition and processing platform to solve the consumers’ problem of how to get from A to B in the most efficient
way possible. We are pleased that our sophisticated technology will now also provide the right solutions for the whole industry.“