At times it takes off for the high skies and at times, it dips to ground levels. For these aerospace companies, the future is now.The trajectory of the global airline industry is pretty much like that of an aircraft. These innovations are the future, and while the industry plans to be carbon-neutral by 2050 with a focus on sustainable fuels, companies like BOOM Supersonic, ZeroAvia, Atlas LTA, Otto Aviation, Ampaire and Deutsche Aircraft are set to disrupt the short-haul market within 15 years.
Among the recent innovative airline social media campaigns and initiatives are Virgin Atlantic's (VA) 'Looking for Linda', an interactive contest that got customers hooked with its unique concept KLM's 'Meet & Seat' service where fliers can select seats alongside fellow passengers based on mutual interests in their social media profiles and British Airways' Facebook application called 'Perfect Days' that encourages travelers to share a travel wish list and itinerary via a Facebook.As social media takes precedence in the overall customer relationship management pie, airlines will need to look at building a large and robust resource pool that can respond to customer queries, complaints, posts and tweets round the clock.As studies indicate, today the volume of social media communication for some of the world's leading airlines, ranges between 15,000 – 200,000 tweets and between 60,000 – 1,000,000 Facebook fans, but in the near future, the numbers will increase phenomenally. Yes, it does mean stepping out of the corporate comfort zone and engaging real-time with the customer, but that's a feat airlines will have to achieve if they want to enhance brand equity and get a mind share of today's customer.With aircraft architecture as a main limitation, airlines will need to compensate with a greater experience, more customized towards each passenger and more.While some airlines have taken a lead in engaging with customers on social media and social media management, others are still wetting their feet. Demand for air transport is expected to increase by an average of 3 per annum over the next.In early May, China’s own commercial aircraft, the Comac C919, successfully completed an hour-long flight testthe first to be done within the public eye.While the test marks only the very beginning of China’s entry as a manufacturer into commercial aircraft markets, it signifies the coming importance the region will have on the future of the aviation industry.A number of leading global airlines have taken off on their 'social' flight and some are indulging in novel ways to engage with customers to build lasting relationships with them. What are the 5 trends that are driving and will continue to drive the airlines story in the future? Trend 1: It's a New Passenger Out There Airlines will need to build 'Social' Pace to Create Brand EquityThe contribution of the air transport industry in 20 years time.
Trend 4: Changing the Course in Revenue GenerationInadvertently rising fuel prices, dull economic conditions and increasing competition are realities that are biting into the revenue generating potential of the global airlines business today. Analytics equips the airlines business with crucial insights, in that sense, analytics is emerging as an 'altimeter' that will help the airline business stay aloft. For the airline industry analytics assumes importance in the form of social media analytics,contact center and speech analytics and revenue model analytics (particularly in the proration process).An altimeter measures the height of an aircraft above sea level – a crucial piece of information for the aircraft to remain aloft. With its ability to extract crucial information from a huge pile of data that helps businesses make sound business decisions, analytics is emerging as a strategic enabler for the airlines business.
Airline Industry Future Generator For Airlines
Carriers generated more than US$ 12 billion in ancillary revenue during 2011. According to a PwC report, the top five U.S. Some of these strategies include tapping alternate revenue generating streams such as selling ancillary products and services across the value chain or stopping revenue leakage via the total revenue integrity route.The ancillary route is an important revenue generator for airlines today.
Since new regulations are a given for the global airlines industry, airlines must engage in a compliance program that can optimize business processes and transform operations.In a bid to ease the effect on various environmental factors on the revenue of the global airlines, the International Air Transport Association (IATA) has introduced a directive – the Simplified Interline Settlement (SIS) that aims to standardize and speed up the interline billing and settlement in the industry. It is a cost that airlines must bear on their own - without passing on to passengers. Department of Transportation, wherein airline companies will have to include all taxes and fees while advertising fares for their flights.While regulation envisages increased safety of passengers and improved sustainability of the business, compliance adds to the total cost of operations. For instance, while airlines in the European Union are penalized for emissions above the limit specified by regulatory authorities, American airlines are adapting to the new pricing rules set by the U.S.
Whatever the business trend, WNS has a solution for your business. WNS provides the airlines industry with the latest, top-notch solutions to create opportunities from challenges. Today, WNS is a BPM partner for some of the leading global airlines across the globe. Here's how WNS could help you Become an Industry TrendsetterWNS is the world's largest travel BPM Company, with a legacy of having started out as a captive for British Airways.
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